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4 Economic Survey 2021-22

Figure 1: Gross Domestic Output (Constant Prices, Base Year:2011-12)

GDP GVA GDP GVA
40 150 GDP Pre-Pandemic Level
145
37 1st Lockdown 2nd Wave 140 GVA Pre-Pandemic Level

₹ Lakh Crore 34 ₹ Lakh Crore 135

130
31

28 125
120
115
25
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 110
2019-20 2020-21 2021-22 2018-19 2019-20 2020-21 2021-22
(PE) (AE)
Source: National Accounts Statistics (NSO), MoSPI

Figure 2: Waves of COVID-19
5 Daily New Cases Second Wave 25%
Positivity rate (7 DMA, RHS)
4 20%

3 4x 15%
Lakh
2 10%

First Wave
1 5%
0 0%
15/04/20 25/05/20 04/07/20 13/08/20 22/09/20 01/11/20 11/12/20 20/01/21 01/03/21 10/04/21 20/05/21 29/06/21 08/08/21 17/09/21 27/10/21 06/12/21 15/01/22

Source: Data accessed from Ministry of Health and Family Welfare (MoH&FW)
Note: DMA stands for Daily Moving Average
SECTORAL TRENDS

1.3 Not surprisingly, the agricultural sector was the least impacted by the pandemic-related
disruptions (Figure 3). It is estimated to grow 3.9 per cent in 2021-22 on top of 3.6 per cent and
4.3 per cent respectively in the previous two years (Table 1). This sector now accounts for 18.8
per cent of GVA.

Table 1: Annual Growth of GVA at constant (2011-12) prices (per cent)
Sectors 2019-20 2020-21 2021-22 Recovery
(1st RE) (PE) (1st AE) over 2019-20
Agriculture & Allied Sectors 4.3 3.6 3.9 107.7
Industry -1.2 -7.0 11.8 104.1

Mining & quarrying -2.5 -8.5 14.3 104.6