India’s GDP Falls by 23.9%
For the first time in 40 years India’s economy has fallen by 23.9%. Watch our latest video for all the details.
Gross domestic product (GDP) is related to the total business done in the country and how much the economy is growing during a specific period. The National Statistical Office (NSO) comes under the Ministry of Statistics and Programme Implementation (MoSPI). According to the data from NSO, India's GDP growth between April-June 2020 is -23.9%. This means India’s economy has fallen by 23.9%.
This is the first time that India’s GDP has fallen by so much in 40 years. This data shows the level of India’s economy after the coronavirus pandemic.
In comparison, in the April-June quarter of 2019-20 India’s GDP had expanded by 5.2%. The fall in India’s economic growth is more because of the Central Government’s order of a nationwide lockdown in March-end. Between April-June quarter all business sectors had suffered except for agriculture. Construction showed a massive decline of 50.3%. Trades like hotels, transport, communication and services related to broadcasting contracted by 47%. Manufacturing sector slid by 39.3%.