The Life of a Water Bubble is Very Short
India’s shrinking GDP
According to preliminary estimates released by the Central Statistics Office on January 7 India’s gross domestic product may shrink by 7.7% during 2020-21. In the April-June 2020 quarter GDP contracted by 23.9% while in the second quarter the contraction was 7.5%. According to earlier estimates by the CSO for the remaining two quarters up to March 2021 the contraction will either end or remain at 0.1%.
The provisional data for 2019-20 estimated India’s GDP at ₹145.7 lakh crore which is projected to shrink to ₹134.4 lakh crore this year. For the first time since 1979-80, India’s recorded GDP has shrunk. These estimates by the CSO will be used for the budget estimates presented to Parliament next month, but the exact figures will only be available in May.