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GDP grows 0.4% in Q3: Pre-Covid times are here, says Finance Ministry

However, the economy grew by a much higher rate of 3.1 per cent in the fourth quarter of 2019-20

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While GFCF has improved from a contraction of 46.4% in Q1 to a growth of 2.6% in Q3, PFCE has recovered from a contraction of 26.2% in Q1 to a much smaller contraction of 2.4% in Q3 | Photo: Bloomberg

Indivjal Dhasmana New Delhi

2 min read Last Updated : Feb 27 2021 | 2:10 AM IST

The Union finance ministry on Friday said the economic growth of 0.4 per cent in the third quarter of the current financial year has returned the economy to the pre-pandemic times of growth.

However, the economy grew by a much higher rate of 3.1 per cent in the fourth quarter of 2019-20.

The ministry said in a statement that the initial policy choice of “lives over livelihoods” succeeded by “lives as well as livelihoods” is now bearing positive results, converging with the foresight the government had about an imminent V-shaped recovery, when it entered the war with the pandemic on the health

Topics : Coronavirus Gross domestic product GDP data GDP growth Finance Ministry

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