What is the reason behind the fall of GDP in India ?
Answers
Answer:
Private consumption — the biggest engine driving the Indian economy — has fallen by 27%. In money terms, the fall is of Rs 5,31,803 crore over the same quarter last year. The second biggest engine — investments by businesses — has fallen even harder — it is half of what it was last year same quarter.
Answer:
India GDP growth contracts 23.9%: What is the economics behind the math?
India GDP Q1 Data: Demand from individual citizens and private businesses plummeted in Q1, increase in government’s demand made up for just 6% of this fall Although most people expected India’s GDP to show substantial contraction when the Ministry of Statistics and Programme Implementation (MoSPI) released the data for the first quarter (April, May, June) of the current financial year on Monday, the broad consensus was that the decline would not exceed 20%. As it turns out, the GDP contracted by 24% per cent in Q1.
In other words, the total value of goods and services produced in India in April, May and June this year is 24% less than the total value of goods and services produced in India in the same three months last year.
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