According to the official data released last Friday, India’s Gross domestic product (GDP) contracted by 7.5% during July , August ,and September quarter.
This means in Q2 of 2020-21 India produced 7.5% fewer goods and services when compared to what India produced in Q2 of 2019-20, entering into a technical recession for the first time in history. In this week’s post of Arthanomics we attempt to analyse India’s GDP and Gross fiscal deficit as a percentage of GDP for the previous quarters and various industries performances of GVA in Q1 and Q2 also how unemployment rate has been falling significantly and lastly comparing the GDP results of different countries.
Please let us know your thoughts on the same in the comments.
Credits- Chirag Sharma and Sakshi Goyal.