Economy is picking up, says FinMin as it gives out select indicators

This comes even as the April-June quarter, and the 2020-21 fiscal year are headed for a contraction, with some estimates pegging GDP contraction for the year to be as high as 6%

The Finance Ministry on Tuesday said the economy was rebounding as India opened up after seven weeks of the lockdown, citing examples of food grain procurement, electricity and fertiliser consumption, rail freight traffic, and other indicators.

This comes even as the April-June quarter and the 2020-21 fiscal year are headed for a contraction, with some estimates pegging gross domestic product (GDP) contraction for FY21 to be as high as 6 per cent.

“Agricultural sector remains the foundation of the Indian economy. And with a forecast of a normal monsoon, it should support the rebooting of the economy. Though GDP contribution of the