For the first time in 40 years, India is entering a recession!

With two consecutive quarters of negative growth in the gross domestic product

And a contraction of 23.9% in Q1 and 7.9% in Q2 due to lockdown, which slashed
demands and affected supply.

India is now in a technical recession.

To improve the situation, the central government had earlier announced the
package of $405 billion (15% of GDP) to ensure smooth flow of business.

Although the Q2 results are better than the Q1, the signs of recovery and
improvement and going back to the pre-covid stage still seems to be difficult

Everything depends on what happens after the 2nd wave of COVID-19 hits India.

What are your thoughts on this? What do you think will happen?

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#business #India #coronavirus #finance #economics

Posted by Uddalak Das on LinkedIn