6/13/2023 0 Comments Swathi weekly magazine april 2012This means that 2020/21 is the worst year in terms of economic contraction in the country’s history, and much worse than the overall contraction in the world (Figure 1). ![]() In the post-independence period, India's national income has declined only four times before 2020 – in 1958, 1966, 19 – with the largest drop being in 1980 (5.2%). This means that the overall rate of contraction in India was (in real terms) 7.3% for the whole 2020/21 financial year. The recovery in the third and fourth quarters (October 2020 to March 2021) was still weak, with GDP rising 0.5% and 1.6%, respectively. According to the latest national income estimates, in the second quarter of the 2020/21 financial year (July to September 2020), the economy contracted by a further 7.4%. From April to June 2020, India’s GDP dropped by a massive 24.4%.
0 Comments
Leave a Reply. |