Page 418 - ES 2020-21_Volume-1-2 [28-01-21]

State of the Economy 2020-21: A Macro View 45

Figure 43: Sectoral Contribution to Overall Figure 44: Share of Components of GVA
GVA Growth

Agri Industry Services
8
100
6 90
4 80 52 52 53
70 53 54 55 54
2 60
Per cent 0 Per cent 50

-2 Agri 40 30 30 29 29 26
Industry 30 29 27
-4 20
Services
-6 Growth of Real GVA 10 18 18 18 18 17 18 20
-8 0
2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21

Source: NSO

1.56 A positive growth in value addition of most of the sectors in second half is an encouraging
sign for the economy (Figure 45). This translates into a modest 0.3 per cent growth in the second
half as against a 14.9 per cent contraction in first half of 2020-21. Agriculture sector growth is
pegged at a steady 3.4 per cent in both the halves of 2020-21. Industry sector has staged a robust
recovery in second half with a positive growth of 1.1 per cent as against a sharp 20.5 per cent drop
in the first half with a sharp pick up in manufacturing sector to 0.5 per cent in second half against a
contraction of 19.4 per cent in first half. Electricity and Construction sectors are also estimated to
register V-shaped recovery with growth of 7.1 per cent and 4.4 per cent respectively in the second
half. The major brunt of the pandemic has been borne by the contact-sensitive services sector, which
contracted by 15.5 per cent in first half and are estimated to contract by 1.1 per cent in second half.
Trade, Hotels, Transport & Communication, constituting one-third of overall services, contracted
by 31.5 per cent in first half and are estimated to contract by 12.0 per cent in second half.

Figure 45: V-shaped Recovery in H2: FY 2020-21 in Most Sectors Constituting GVA

H1FY21 H2FY21
7.1 7.1
3.4 3.4 4.4 3.3
0.5 0.3

-1.4
-8.3 -6.8
-12.0 -11.3
-17.2 -19.4 -14.9

-30.2 -31.5
Agriculture Mining Manufacturing Utilities Construction Trade, hospitality, transport, communication Financial, real estate & professional services Public admin & defence GVA

Source: NSO