India GDP growth Highlights: India’s economy continued to accelerate in the January-March quarter, growing 1.6%. For the full financial year 2020-21, India’s economy contracted 7.3%. The Q4 GDP figures were ahead of the 1% median projections made by economists polled by Reuters. India has now reported two consecutive quarters of GDP expansion, after having witnessed two consecutive quarters of contraction earlier in the financial year when India entered a technical recession. The continued GDP growth indicates that India’s economy was treading on the road to recovery before the second wave of the covid-19 hit. “GDP at Constant (2011-12) Prices in Q4 of 2020-21 is estimated at Rs 38.96 lakh crore, as against Rs 38.33 lakh crore in Q4 of 2019-20, showing a growth of 1.6%,” the official release said.