COVID-19 IMPACT: INDIA’S GDP SHRINKS 23.9 PERCENT IN Q1

Highlights

• As per the National Statistical Office (NSO), the GDP contraction in the April-June period of FY21 was the largest fall on record since India started reporting quarterly data in 1996

• This is the sharpest decline since 1996 and is worse than any of the nations in G20

The GDP data released on Monday showcased a plunge of 23.9 percent of gross in the first quarter as the Indian economy severe....