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Indian GDP trend
September 6 , 2020
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- According to the data of National Statistical Office India’s gross domestic product (GDP) contract by 23.9% (-23.9%) in April-June period quarter of 2020.
- India’s real GDP fell to 26.9 lakh crore in constant terms, 23.9% lower than a year ago.
- Nominal GDP fell to Rs 38.08 lakh crore, 22.6% lower than the same period last year.
- The June quarter GDP data is the worst contraction in the history of the Indian economy since Independence.
- This is India’s fourth recession since independence and the first since liberalisation.
- The economy last contracted in Financial Year of 1980.
- This is the first contraction since India began releasing GDP growth data on a quarterly basis in 1997-98.
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