Indian economy contracts 7.5 per cent in Q2
Agencies. Updated: 11/27/2020 6:42:19 PM
National
The economy had shrunk by 23.9 per cent in first quarter of this fiscal due to Covid-19
New Delhi: The Indian economy contracted by 7.5 per cent in the July-September quarter of this fiscal amid the COVID-19 crisis, official data showed on Friday.
The gross domestic product (GDP) had expanded by 4.4 per cent in the corresponding July-September period of 2019-20, according to data released by the National Statistical Office (NSO).
The economy had shrunk by an unprecedented 23.9 per cent in the first quarter of this fiscal due to the coronavirus pandemic and resultant lockdowns.
China’s economy grew by 4.9 per cent in July-September this year, faster than the 3.2 per cent growth in April-June 2020.