Live updates: India's Q2 GDP contracts by 7.5% after record slump in last quarter

Construction sector

The construction sector, which is the second-largest employer in the economy, contracted only 8.6 per cent in Q2 versus (-) 50 per cent in Q1.

Financial, real estate sector

Financial and real estate services shrank 8.1 per cent in the second quarter of FY21 from a year ago, while trade, hotels, transport and communication declined 15.6 per cent.

Estimates show 'upside potential' for economy this financial year: CEA

Chief economic adviser (CEA) K V Subramanian said there is an "upside potential" in the estimates about the economy during the current financial year as recovery is taking faster than expected. Read full story here

Agriculture sector growth

Continuing its good showing, the agriculture sector grew by 3.4 per cent, while the trade and services sector showed lower-than-expected contraction at 15.6 per cent.

The GDP contraction of 7.5 per cent in July-September compares with a growth of 4.4 per cent in the same quarter last year.

Mfg, agri, trade & services sector

Manufacturing clocked a surprise 0.6 per cent growth in July-September after it had shrunk by a massive 39 per cent in the preceding quarter, the GDP data showed. Continuing its good showing, the agriculture sector grew by 3.4 per cent, while the trade and services sector showed lower-than-expected contraction at 15.6 per cent, it added.

India's economy shrinks 7.5% in Q2: What experts said

India's economy contracted 7.5% in the quarter to September, according to official data, showing some signs of a pick-up after the easing of pandemic restrictions that triggered a record contraction in the previous quarter. (Read full story)

CEA KV Subramanian's outlook for the economy

"Economic recovery gives us optimism, but caution required as regards both economy and pandemic. The GDP estimates are more encouraging than what was anticipated by most commentators."

There has been a phenomenal growth in digital payments in India during Covid-19 pandemic, economy is getting increasingly formalized: Chief economic adviser

There has been a reasonable improvement in transport indicators. Agriculture has been the persistent bright spot, says chief economic adviser KV Subramanian.

Quarterly GDP numbers over the last few years

"Q2 GDP of 2020-21 is estimated at Rs 33.14 lakh crore, as against Rs 35.84 lakh crore in Q2 of 2019-20, showing a contraction of 7.5 per cent as compared to 4.4 per cent growth in Q2 2019-20. Quarterly GVA for Q2 of 2020-21 is estimated at Rs 30.49 lakh crore, as against Rs 32.78 lakh crore in Q2 of 2019-20, showing a contraction of 7," data released by ministry of statistics and programme implementation stated.

India's GDP growth contracted by 7.5 per cent in Q2 after record slump of 23.9 per cent in previous quarter (Q1).

Core industries growth

Eight core industries growth came at -2.5% in October against -0.1% (revised from earlier -0.8%) in September. Read full story

India's April-October fiscal deficit tops 126% of full year target

Fiscal deficit in the seven months to end-October stood at Rs 9.53 lakh crore ($128.9 billion), or 126.7% of the budgeted target for the whole fiscal year, government data showed. (Read full story)

Coal production and thermal generation

Port cargo traffic, rail freight and air passenger growth

Non-oil exports, GST e-way bill and non-food bank credit growth

Automobile production

ATF, petrol and diesel consumption