(Video) Rajya Sabha TV (RSTV) The Big Picture: Q1 GDP Figures - Impact & Way Forward
Topic: Q1 GDP Figures - Impact & Way Forward
Guest:
- Nitin Desai, (Former Chief Economic Advisor)
- Ajit Ranade, (Chief Economist, Aditya Birla Group)
- Abhinav Prakash, (Assistant Professor, University of Delhi - DU)
Topic Description:
India's economy suffered its worst slump on record in April-June, with the gross domestic product contracting by 23.9 per cent as the coronavirus-related lockdowns weighed on the already-declining consumer demand and investment. The GDP contraction in the world's fifth-largest economy compared with 3.1 per cent growth in the preceding January-March quarter and 5.2 per cent expansion in the same period a year back, according to official data released on Monday. This is the sharpest contraction since quarterly figures started being published in 1996. The pandemic has caused historic GDP contractions in economies around the world.
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Courtesy: RSTV