GDP grows 1.6% in Q4 but contracts 7.3% in FY 2020-21

NEW DELHI: India’s economic growth picked up in the Januarymarch quarter from the previous three months, but economists have grown pessimistic about this quarter after a huge second wave of Covid-19 infections hit the country last month.

Gross domestic product (GDP) grew 1.6% in Januarymarch compared with the same period a year earlier, mainly driven by manufacturing sector growth, according to data

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That compared with revised growth of 0.5% in the previous three months and 1.0% according to a Reuters poll of economists. The GDP had expanded by 3% in the corresponding January-march period of 2019-20, the data showed.

India also revised its annual GDP estimates for the fiscal year, predicting a 7.3% contraction, less than its earlier estimate of -8.0%.

A slow vaccination drive and local restrictions after a massive second wave of infections across the country have hit economic activities like retail, transport and construction while putting millions out of work.

Economists said the economy may now see a collapse in consumer demand, which accounts for more than 55% of the economy, as household incomes and jobs have declined.

While Twitter claimed before the court that it has complied with the rules and appointed a resident grievance officer, the central government disputed the claim.

“They have to follow it (rules), if it has not been stayed,” the court said.

In his plea, filed through advocate Akash Vajpai and Manish Kumar, Acharya said that he came to know about the alleged non-compliance when he tried to lodge a complaint against a couple of tweets.

During the hearing, central government standing counsel Ripudaman Singh Bhardwaj told the court that Twitter has not complied with the rules.

Acharya, in his plea, said that