been stronger than expected and the economy could show growth in the fourth quarter post q2 there has been a pickup in consumer demand for autos nondurables and rail freight during the festival season as prospects grew for covid19 vaccines to be launched early next year but there are downside risks as some states reimposed curbs to fight a second wave of infections which could possibly slow the pace of recovery in the next two or three months as well as heightening the risk of inflation indias tally of infections has crossed 93 lakh the secondhighest globally after the us with more than 135 lakh deaths the improvement in the economy came ahead of next weeks interest rate decision by the rbi gdp at constant 201112 prices in q2 of 202021 is estimated at rs 3314 lakh crore as against rs 3584 lakh crore in q2 of 201920 showing a contraction of 75 percent as compared to 44 percent growth in q2 201920 the national statistical office nso said in a statement with a view to contain the spread of the covid19 pandemic restrictions were imposed on the economic activities not deemed essential during q1 though the restrictions have been gradually lifted there has been an impact on economic activities in these circumstances some other data sources such as gst interactions with professional bodies etc were also referred to for corroborative evidence and these were clearly limited it added most rating agencies had projected that the fall in indias gdp for the second quarter of 202021 would be arrested to single digits niti aayog vice chairman rajiv kumar said the economic recovery was a pleasant surprise manufacturing shows a positive growth which is the confirmation of a rebound of demand led recovery he tweeted vedanta chairman anil agarwal said the q2 gdp numbers show that economy is recovering governments efforts on stimulus and reform are showing results hopefully we will have positive growth in h2 fy21 and double digit growth in fy22 india ratings and research said much would depend on the sustainability of the consumption demand seen in october if it sustains then a faster recovery is possible but with rising covid19 cases and some states hinting that they may have to impose some kind of lockdown could be a spoiler in the growth recovery process it said separate official data showed that apriloctober 2020 fiscal deficit at rs 953 lakh crore was 1197 per cent of the fy21 target fiscal deficit has been budgeted at rs 796 lakh crore for fy21 kks anz anz abm abm pti published on nov 27 2020 at 0817 pm ist telegram facebook copy link be the first one to comment comment now comments comment now read comment 1 all comments post post find this comment offensive choose your reason below and click on the submit button this will alert our moderators to take actions reasons for reporting foul language defamatory inciting hatred against a certain community out of context