India GDP Highlights: India’s economy grew by 20.1% during the April-June quarter of this financial year, as against a 24.4% contraction seen during the same period last year. The massive growth seen in the first quarter has made India the fastest-growing major economy across the globe. India’s GDP at constant prices (2011-12) in the first quarter stood at Rs 32.38 lakh crore, however still lower than the Rs 35.66 lakh crore seen in the first quarter of 2019-20, signalling that India is yet to emerge from the covid induced slump. The construction sector’s GVA was 68.3% higher than the previous year. The services sector grew at 3.7% from the year-ago period. In the previous quarter, India’s economy had grown by 1.6%. For the full financial year 2020-21, India’s GDP contracted by 7.3%.