National Statistical Office (NSO) Projects India’s GDP to contract 7.7% in FY21
- The GDP of India is expected to contract by 7.7 percent in the current fiscal year 2020-21, as per the first advanced estimates released by the National Statistical Office (NSO), under the Ministry of Statistics and Programme Implementation (MOSPI) on January 07, 2021.
- The first advance estimates of GDP of a financial year are released before the Union Budget. This data helps in the budget-making process.