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    India’s real GDP increased by 20.1% in the first quarter of 2010 on a distorted basis: ICRA

    India’s real gross domestic product (GDP) increased by a record 20.1% year-on-year (YoY) in the first quarter of this year (first quarter of 2010), in line with the 20% forecast of rating agency ICRA. bottom. .. However, real GDP in the first quarter not only recorded a continuous slowdown of 16.9% compared to the fourth quarter of 2009, but also fell sharply by 9.2% below the pre-COVID level in the first quarter of 2008. Expansion is analytically misleading.

    As expected, the distorted foundation of last year’s severe national blockade masked the effects of the second wave of COVID-19 with staggered state-by-state restrictions in the first quarter of 2010, ICRA said in a press release. rice field.

    Gross value added (GVA) at base price increased 18.8% year-on-year in the first quarter of 2010, exceeding ICRA’s forecast of 17%. This was driven by industry and services.

    GVA growth in agriculture, forestry and fisheries was healthy at 4.5% in the first quarter of 2010, and rabbi harvest was strong. GVA was 7.8% below pre-pandemic levels, driven by all sub-sectors except agriculture and electricity.

    ICRA expects GDP growth to be between 7.8% and 8.8% in the second quarter of 2010, with absolute GDP below pre-pandemic levels due to slow recovery in the services sector ..

    The ICRA also predicts that real GDP will exceed pre-pandemic levels in the second half of 2010, and the extent of that increase will depend on whether the recent acceleration of vaccination continues.

    The potential third wave, and the ability of existing vaccines to protect against new variants that may emerge, remains an important risk.

    Fiber2Fashion News Desk (DS)

    India’s real GDP increased by a record high of 20.1% in the first quarter of 2010, in line with the 20% forecast of rating agency ICRA. However, real GDP in the first quarter not only showed a continuous slowdown of 16.9% compared to the fourth quarter of 2009, but also fell sharply by 9.2% below the pre-COVID level in the first quarter of 2008. Is analytically misleading.

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    India’s real GDP increased by 20.1% in the first quarter of 2010 on a distorted basis: ICRA

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