India's Q4 GDP Suggests Economy’s Return To Normalcy Before The Second Covid-19 Wave: Systematix
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Systematix Research Report
The expansion in India’s Q4 FY21 gross domestic product to 1.6% indicates that the economy was returning to normal before the second wave of Covid-19 struck, led by strong pent up demand as reflected in the gross value added print of 3.7%.
The recovery in GVA was due to a strong rebound in the manufacturing and construction sectors.
Importantly, the Q4 print depicted large gains in domestic absorption of 105% of the GDP.
The continual rise in external sector deficit (down 2.5% of GDP) emanating from capital formation indicates the enhancement of productive capacity in the economy.
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