INDIA: Historical decline in GDP
India's GDP declined by 23.9% in the quarter of April-June 2020.
The figures published at the end of August were more catastrophic than expected: a decrease of 23.9% while economists predicted a decline in the number of « only » 18.3%.
India had never experienced such a regression: all sectors of activity were affected except agriculture.
On 25 March, the government imposed a strict confinement of the entire country, putting an end to activity and destroying thousands of jobs...
Containment has had a strong impact on the Indian economy: the health crisis is turning into an economic crisis.
The relaxation of the rules should allow the country to return, but the recovery seems to be already complicated and the virus is still very active in the country.
Before the pandemic, the economy was already in difficulty with a high unemployment rate.
A recovery plan was launched in May to make India « self-sufficient » But can this one prevent decline?
Source(s): The Echoes
Editor(s): J. BONNTON