All Indians MatterNovember 30, 2020
23
00:05:345.14 MB

India’s first ever recession

As the economy contracted 7.5% in the July-September 2020 quarter, India entered a ‘technical recession’ for the first time ever. This is bad news, but the fear is that even this contraction doesn’t reflect reality because festival-related spending may be making the situation look better than it is. That pent-up demand, say economists, may be spent and we could see a further contraction in the next quarter.

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