India’s GDP free-fall slows down in Q2 FY21; Is the worst behind?
The Indian economy, for the first time, has plunged into a technical recession. India’s GDP in the last quarter was -23.9%, however, India’s second-quarter GDP free-fall slows down in Q2FY21. India’s second-quarter GDP contracts to minus 7.5% as opposed to minus 23.9% in the first quarter. The construction sector shows recovery. The Government attributes contraction in the first quarter to stringent lockdown. Core sector data has also dipped by 2.5% in October versus -0.1% in September. The data which has come to light reveals the actual state of the Indian economy.
Watch what Economist Santosh Mehrotra, has to say on India’s GDP rate!