(Video) Rajya Sabha TV (RSTV) The Big Picture: GDP Q2 Data

(Video) Rajya Sabha TV (RSTV) The Big Picture: GDP Q2 Data

Topic: GDP Q2 Data


  • Ajay Shankar, (Former Secretary, DIPP, Ministry of Commerce & Industry, GoI)
  • Abhinav Prakash, (Assistant Professor, University of Delhi)
  • K.A. Badarinath, (Senior Journalist)

Topic Description:

For the second quarter in a row, the Indian economy contracted by 7.5 percent during the July-September quarter, and entered a technical recession in the aftermath of the COVID-19 pandemic. Analysts polled by news agencies Reuters and Bloomberg had expected a contraction of 8.8 per cent and 8.2 per cent, respectively, for the second quarter. The real GDP for April-June 2020 had contracted 23.9 per cent, the steepest fall ever (and the first contraction in 40 years). The July-September 2019 quarter had witnessed a GDP growth of 4.4 per cent. The eight core industries growth came at -2.5% in October against -0.1% in September. India's fiscal deficit stood at Rs 9.53 lakh crore during April-October, which is 119.7 percent of Rs 7.96 lakh crore of the budget target. The revenue gap for the same period stood at Rs 7.72 lakh crore vs Rs 5.46 lakh crore on a yearly basis.

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Courtesy: RSTV