New Delhi, 26th February 2021: The GDP growth of 0.4 per cent for the third quarter of FY’ 21 is no surprise, but it marks a significant turnaround into the Indian economy returning to a positive trajectory after sharp drops in the first two quarters, even as the war against Covid-19 is continuing, said ASSOCHAM Secretary General Mr Deepak Sood.
“The 4th and the last quarter of the current fiscal should be far better. As pointed out by ASSOCHAM in its earlier projection, the real recovery would be seen in the FY ‘22, beginning with the first quarter and then picking up pace later,” Mr Sood said.
He said the services sector which contributes maximum to the GDP remained muted for the better part of the year 2020-21 and it is only in the last few months that the re-opening had started; the same should be reflected in the coming months. With the roll out of vaccines against the Covid-19 picking up pace, we expect the services too catching up.