For the first time in 40 years, India is entering a recession!
With two consecutive quarters of negative growth in the gross domestic product
(GDP),
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
enough.
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?
Follow: #NinjaWriter
#business #India #coronavirus #finance #economics
Posted by Uddalak Das on LinkedIn
link: linkedin.com/in/uddalak-das-marketing-writer
With two consecutive quarters of negative growth in the gross domestic product
(GDP),
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
enough.
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?
Follow: #NinjaWriter
#business #India #coronavirus #finance #economics
Posted by Uddalak Das on LinkedIn
link: linkedin.com/in/uddalak-das-marketing-writer