Indian economy contracts 23.9% in the April-June quarter

The Indian economy contracted by 23.9% in the April-June quarter of this fiscal amid the COVID-19 crisis, official data showed on Monday. The gross domestic product (GDP) had expanded by 5.2 per cent in the corresponding April-June period of 2019-20, according to data released by the National Statistical Office (NSO).

The government had imposed a nationwide lockdown on March 25 to curb the spread of coronavirus infections. The Centre began easing the lockdown for certain economic activities from April 20 onwards.




Most rating agencies had projected contraction in India's GDP for the first quarter of 2020-21. China's economy grew by 3.2% in April-June after recording a decline of 6.8% in January-March 2020.

SEE ALSO:
Apna Time Aayega? Remembering Pranab Mukherjee, a village boy who couldn’t be stopped from being India’s first citizen
Latest PSU job openings at Air India, AASL, NLC India, BEL
Warren Buffet is the only one on Bill Gates’ speed dial aside from Melinda ⁠— that and other secrets of the friendship between two billionaires