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Indian Economy in recession
December 2 , 2020
1458 days
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- The Indian economy contracted by 7.5 percent in the second quarter of the fiscal year 2020-21 (July to September).
- With this contraction, India officially entered a technical recession for the first time.
- The contraction is a rebound from the earlier quarter of the fiscal year 2020-21.
- India's economy had contracted by 23.9 percent in the April to June quarter (Q1 FY21).
- It marked the first contraction in more than 40 years.
- The GDP at Constant (2011-12) Prices in Q2 of FY 2020-21 was estimated at Rs 33.14 lakh crore, as against Rs 35.84 lakh crore in Q2 of FY 2019-20.
- This shows a contraction of 7.5 percent as compared to 4.4 percent growth in the second quarter of the Fiscal Year 2019-20.
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