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LATEST NEWS UPDATES | Indian economy contracts by 7.5% in Q2

Indian economy contracts by 7.5% in Q2

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published Published on Nov 27, 2020   modified Modified on Nov 28, 2020

-The Hindu

Country enters technical recession.

India’s Gross Domestic Product (GDP) contracted 7.5% in the second quarter of 2020-21, following the record 23.9% decline recorded in the first quarter, as per estimates released by the National Statistical Office on Friday. The country has now entered a technical recession with two successive quarters of negative growth.

However, the economy’s performance between July and September when lockdown restrictions were eased is better than most rating agencies and analysts anticipated. While most had estimated a contraction of around 10%, the Reserve Bank of India had projected a 8.6% decline in the second quarter.

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The Hindu, 27 November, 2020, https://www.thehindu.com/business/Economy/indian-economy-contracts-by-75-in-q2/article33193753.ece


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