New Delhi: The Indian economy has declined by 6.6 per cent in 2020-21. Earlier it was estimated to shrink to 7.3 percent. This shows that the cowardly economy did not shrink as much as expected.

According to the data released in May 2021, the Indian economy has declined by 7.3 percent in 2020-21 due to the lockdown imposed by Kovid. The National Statistical Office (NSO) also revised the GDP growth figures for 2019-20 to 3.7 per cent from the previous estimate of 4 per cent.

Taking into account the base year 2011-12 for the financial years 2020-21 and 2021-22, the real GDP at uninterrupted prices stood at Rs 135.58 lakh crore and 145.16 lakh crore respectively. Thus, it shows a decline of 6.6 per cent in 2020-21 as compared to a growth of 3.7 per cent in 2019-20.

As per the revised figures for January 2012, taking into account the base year of 2011-12, the real GDP at uninterrupted prices for 2019-20 stood at Rs 145.69 lakh crore, showing a growth of 4% over 2019-20. Now, if we want to see smooth growth at the base price of 2011-12, it is showing a contraction of 3.8 per cent in 2020-21 as against a growth of 3.8 per cent in 2019-20.