Negative growth in two consecutive quarters is technically considered slow. This is to say that the government has officially accepted the recession.
Recession assumes economy
The GDP figures for the September quarter suggest that the Indian economy has officially fallen into recession. Although there has been a recovery from the June quarter, but despite this, the challenge remains for the government.
What are the latest figures of GDP
The latest figures show that GDP growth in the second quarter of the financial year 2020-21 was 7.5% in the negative. In the first quarter of the financial year, ie, in the quarter of June, the Indian economy has fallen by about 24 percent. Negative growth in two consecutive quarters is technically considered slow. This is to say that the government has officially accepted the recession.
Let us tell you that the Indian economy was going through an unlock phase in the September quarter of the financial year 2020-21. This means that the economy was slowly being opened after a strict lockdown.
Apart from China positive, UK-US negative India, economy of UK, Japan, USA, Italy, France, Germany is also in the negative zone in the second quarter. But India’s GDP is still in the worst phase after Britain. However, China’s economy was 4.9 percent in the second quarter. There was a growth of 3.2 percent in the April-June quarter.