Page 417 - ES 2020-21_Volume-1-2 [28-01-21]

44 Economic Survey 2020-21 Volume 2

Figure 42: Half-Yearly Trends in Growth of Components of GDP

42(a): Private Final Consumption Expenditure 42(b): Government Final Consumption Expenditure

62 Share in GDP YoY Growth (RHS) 10 16 Share in GDP YoY Growth (RHS) 20
17.0
5 0 14 15.1 15
Share in GDP (Per cent) 58 58.4 60.2 59.3 61.2 60.8 -0.6 -5 YoY Growth (in Percent) Share in GDP (Per cent) 10 8 6 12.3 9.9 13.1 11.0 13.1 10 YoY Growth (in Percent)
60
12

-10
5
56
57.5 -15 4 2 0
-20
54 -25 0 -5
H1FY19 H2FY19 H1FY20 H2FY20 H1FY21 H2FY21 H1FY19 H2FY19 H1FY20 H2FY20 H1FY21 H2FY21

42(c): Gross Fixed Capital Information 42(d): Exports and Imports

15 12.1 13.6
30 Share in GDP YoY Growth (RHS) 15 10
10
25 28.8 -0.8 5 0 5 0 11.0 5.3 0.4
Share in GDP (Per cent) 20 29.1 27.7 26.1 22.9 25.3 -5 YoY Growth (in Percent) YoY Growth (Per cent) -10 -3.9 -9.7 -10.7 -5.8

-7.3
-5
-10
15
-11.3
-15
-15
10
-20
-25
5
-25
-30 -20 Exports Imports
0 -35 -30 -29.1
H1FY19 H2FY19 H1FY20 H2FY20 H1FY21 H2FY21 H1FY19 H2FY19 H1FY20 H2FY20 H1FY21 H2FY21
Source: NSO

1.55 On the supply side, Gross Value Added (GVA) growth is pegged at -7.2 per cent in
2020-21 as against 3.9 per cent in 2019-20. Only Agriculture contributed to positive growth
while Service and Industry contributed to the contraction in GDP (Figure 43). Agriculture
is set to cushion the shock of the COVID-19 pandemic on the Indian economy in 2020-
21 with a growth of 3.4 per cent – resulting in an increase in its share in GDP to 19.9 per
cent in 2020-21 from 17.8 per cent in 2019-20 (Figure 44). This indicates that agricultural
activities for rabi harvesting and kharif sowing were largely unaffected by the COVID-
induced lockdown. Industry and Services are estimated to contract by 9.6 per cent and 8.8
per cent during the year. Within Industry, Mining is estimated to contract by 12.4 per cent,
Manufacturing by 9.4 per cent and construction by 12.6 per cent. The utilities sector has
shown a sharp recovery and is set to register a positive growth of 2.7 per cent in 2020-21.
Within Services Sector, trade, hotels, transport & communication are estimated to contract
by 21.4 per cent.