STEEPEST GDP CONTRACTION ON RECORD: FUTURE CHALLENGES
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STEEPEST GDP CONTRACTION ON RECORD: FUTURE CHALLENGES
The economy shrank by 23.9 per cent in the first quarter ended June 30 marking the steepest decline ever. This is the first official data-led indication of contracting real / nominal GDP, GVA etc. The study examines factors leading to the collapse in growth; extremely challenging future outlook with only a ‘U’ shaped recovery probable; whether the downturn will extend further; an even worse situation in States; and that Agriculture alone may not be enough to bail out the economy.
Situation assessment as on 7 September ( (2,635 words)
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Date of SS: 7 September
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