Lok Sabha Question No. 464 (UNSTARRED), answered on 2020-09-16
Subject: GDP Decline
Ministry: STATISTICS AND PROGRAMME IMPLEMENTATION
Asked by: Anto  Antony, Sumedhanand Saraswati, Rakesh Singh, Deepak Baij

## GOVERNMENT OF INDIA MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION

## LOK SABHA

UNSTARRED QUESTION NO. 464

TO BE ANSWERED ON 16.09.2020

## GDP DECLINE

464.    SHRI ANTO ANTONY:

SHRI SUMEDHANAND SARASWATI:

SHRI RAKESH SINGH:

SHRI DEEPAK BAIJ:

Will the Minister of STATISTICS AND PROGRAMME IMPLEMENTATION be pleased to state:

whether  the  Government  has  noticed  that  Gross  Domestic

- (a) Product (GDP) is falling drastically;
- if  so,  the  details  thereof  including  GDP  of  last  10  quarters,
- (b) quarter-wise;
- (c) the major reasons for sharp decline in GDP; and
- (d) (d) the  major  steps  taken  by  the  Government  to  arrest  the decline of GDP, along with the details?

## ANSWER

MINISTER OF STATE (INDEPENDENT CHARGE) OF THE MINISTRY OF STATISTICS AND PROGRAMME IMPLEMENTATION AND MINISTER OF STATE (INDEPENDENT CHARGE) OF THE MINISTRY OF PLANNING (RAO INDERJIT SINGH)

- (a)  and  (b):  The  quarter-wise  GDP  Growth  Rates  at  Constant (2011-12) Prices of last 10 quarters are as under:

Table 1: Growth Rates of GDP over Corresponding Quarter (Q) in previous year at Constant (2011-12) Prices (in %):

| 2017-18   | 2018-19   | 2018-19   | 2018-19   | 2018-19   | 2019-20   | 2019-20   | 2019-20   | 2019-20   | 2020-21   |
|-----------|-----------|-----------|-----------|-----------|-----------|-----------|-----------|-----------|-----------|
| Q4        | Q1        | Q2        | Q3        | Q4        | Q1        | Q2        | Q3        | Q4        | Q1        |
| 8.2       | 7.1       | 6.2       | 5.6       | 5.7       | 5.2       | 4.4       | 4.1       | 3.1       | -23.9     |

(c):  Decline in first quarter of 2020-21 was witnessed owing to fall in  the  growth  rates  of  almost  the  broad  sectors,  except  for Agriculture,  forestry  and  fishing  sector.  The  sectors  namely, Mining  &  Quarrying;  Manufacturing;  Constructions;  and  Trade, Hotels Transports, Communications and Services related to Broadcasting  witnessed  sharp  decline  in  GDP  during  the  first quarter of 2020-21.

(d): The  Government  has  announced  a  special  economic  and comprehensive  package  of  Rs.  20  lakh  crores  -  equivalent  to 10 per cent of India's GDP - to combat the impact of the COVID-19 pandemic in India.The Government has implemented several measures  to  mitigate  the  negative  impact  of  COVID-19  on  the economy which, inter-alia, include: relief measures for households in  kind  and  cash  transfers;  wage  increase  for Mahatma  Gandhi National  Rural  Employment  Guarantee  Act(MGNREGA)  workers and support for building and construction workers, collateral free loans to self-help groups, credit facilities for street vendors under PM SVANidhi, reduction in EPF contributions, employment provision  for  migrant  workers; relief  measures  for Micro,  Small, and Medium Enterprises (MSMEs); postponing tax-filing and other compliance deadlines;  and  structural  reforms announced  as  part of the Atmanirbhar Package etc.

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