GDP Contracted 23.9% Due To 'Act of God'?
The spread Covid-19 pandemic has heavily dented India's economy and plunged the country's GDP to (-) 23.9 per cent during the first quarter (Q1) ended June 2020-21 on a year-on-year basis. According to the National Statistical Office (NSO), the GDP at 'Constant (2011-12) Prices' in Q1 of 2020-21 is estimated at Rs 26.90 lakh crore, as against Rs 35.35 lakh crore in Q1 of 2019-20, showing a decline of 23.9 per cent. Finance Minister Nirmala Sitharaman HAD said the economy has been hit by the COVID-19 pandemic, which is an ''Act of God'', and it will see a contraction in the current fiscal.
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