23.9% contraction in gdp in apr- june quarter
India's April-June qtr GDP contracted by a massive 23.9 pct year-on-year. This is the first GDP contraction in more than 40 years, and perhaps the steepest fall in headline GDP numbers.
Did business contract by same amount for startups and smes? I think the hit was more like 50% more
Lot of effort s are required to make economy stable Cabinet should be strengthened by good people more
Here's an excerpt from INDIA TOP TEN e-letter of yesterday's date; 23.9 % appears to be an average value of all the projections below: Year-on-year GDP contraction projections for Q1 of FY21 (per various media): Religare Broking: -15% to -20% Angel Broking: -15% to -25% SBI: -16.5% CARE Ratings: -20.2% HDFC Bank: -21% ICRA: -25% Barclays Research: -25.5% And while manufacturing, construction, and trade and hotels etc. are likely to be impacted the most, the agriculture and public administration (read the government) sectors are expected to do well. Previous quarter: India's GDP declined to an 11-year low of 3.1% in the January-March quarter (Q4 of FY20) — an early impact of the pandemic. GDP growth for FY20 was projected at 4.2% more
Considering India now becoming the epicenter of Coronavirus pandemic, situation won't recover until mid of 2021. more