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India's GDP contracts 23.9 percent in April-June quarter


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  • The Indian economy contracted by 23.9 per cent in the April-June quarter of this fiscal amid the COVID-19 crisis, official data showed on Monday.

     

    The gross domestic product (GDP) had expanded by 5.2 per cent in the corresponding April-June period of 2019-20, according to data released by the National Statistical Office (NSO).

    Commenting on the Q1FY21 GDP data, the Chief Economic Adviser to the Government Krishnamurthy Subramanian: “As the world economic outlook has highlighted, the fraction of countries, where GDP per capita would decrease is the highest since 1870, so once in a one and a half century event, which is what we are going through.”

    “India was also in a ‘Lockdown’ all through the April-June quarter with the majority of economic activities being restricted, so this trend is along the expected lines.”

     

 

http://ddnews.gov.in/business/indias-gdp-contracts-239-percent-april-june-quarter

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