Economy

Indian economy under recession, GDP contracts by 7.5 percent

In the July-September quarter of this fiscal, the Indian economy contracted 7.5 per cent, official data showed on Friday.

According to data released by the National Statistical Office (NSO), the gross domestic product (GDP) had expanded by 4.4 per cent in the corresponding July-September period of 2019-20.

The economy had shrunk by an unprecedented 23.9 per cent in the first quarter of this fiscal due to the coronavirus pandemic and resultant lockdowns.

To Top