The government in February said there is an uptick in growth and the slide in economic growth has already bottomed out. “We have already bottomed out. Certainly, there’s an uptick; whether it translates into higher demand remains to be seen; will have to wait to see the specific impact on national account numbers”, DEA Secretary Atanu Chakraborty said after the release of Q3 GDP numbers.

The Indian economy grew 4.7 per cent in the third quarter ended December 31, 2019, the National Statistics Office said in February. The GDP growth has now slowed to a nearly seven-year low of 4.7 per cent in the quarter ending December 2020.

The National Statistical Office (NSO) has, however, upwardly revised GDP growth estimates for the first quarter of 2019-20 to 5.6 per cent (from 5 per cent), and for the second quarter to 5.1 per cent (from 4.5 percent).