The GDP shrank by the steepest extent ever by 23.9 percent in the April-June period due to the impact caused by a coronavirus.
The official data released on August 31, 2020, showed the GDP at the constant price (2011-12) in Q1 of 2020-21 is estimated at Rs 26.90 lakh crore, as against Rs 35.35 lakh crore in Q1 of 2019-20, a contraction of 23.9 percent as compared to 5.2 percent growth in Q1 2019-20.
Agriculture remained out as the only exception. All other sectors, including manufacturing, construction, and services, suffered sharp declines. Electricity, gas, water supply, and other utility services segments too shrank by 7 percent against 8.8 percent growth a year ago. Services like a hotel, transport, communication, and broadcasting were hit the most with a decline of 47 percent. Financial, real estate, and professional services too suffered the most.