Real Estate Growth Contracts 5.3% in April-June Qtr
India's GDP growth numbers, released by the Central Statistics Office, has shown that the coronavirus-induced disruptions have ravaged the economy. The real estate sector has been also felt the heat with numbers falling by 5.3 percent in Q1 FY21 from 6 percent growth in the same period last fiscal,
India's GDP growth numbers, released by the Central Statistics Office, has shown that the coronavirus-induced disruptions have ravaged the economy. The real estate sector has been also felt the heat with numbers falling by 5.3 percent in Q1 FY21 from 6 percent growth in the same period last fiscal, the Central Statistics Office data showed.
Experts opine that these readings must be viewed in the light of an unparalleled assault on the global economy, from which India is certainly not insulated. Rajani Sinha, Chief Economist and Head Research Knight Frank India, also said the sharp fall in the first quarter GDP is on expected lines given that around 70-80 percent of the economy was on a standstill in the first two months of this quarter. “It is very important for consumer sentiments and consumer spending to improve for the economy to bounce back," she said.