INDIAN ECONOMY CONTRACTS BY 23.9% IN Q1 OF 2020-21.WORST IN 24 YEARS.

India’s gross domestic product (GDP) contracted 23.9 per cent in the first quarter of financial year 2020-21, lowest in 24 years. This is the worst quarterly GDP numbers ever recorded since India started compiling GDP data on quarterly basis in 1996. The manufacturing, construction and trade sectors experienced massive contraction at 39.3%, 50.3%, 47% respectively.

 

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  1. https://indianexpress.com/article/opinion/editorials/india-coronavirus-lockdown-economy-gdp-contraction-6577940/
  2. https://indianexpress.com/article/explained/gdp-contraction-23-9-the-economics-behind-the-math-6578046/
  3. https://economictimes.indiatimes.com/blogs/et-editorials/expected-bad-news-boost-investment/
  4. https://thewire.in/economy/india-gdp-shock-pm-modi-approach