Indian economy contracts 7.5% in July-September quarter amid COVID-19 outbreak

indian-economy-contracts-7.5%-in-july-september-quarter-amid-covid-19-outbreak

New Delhi: The Indian economy contracted by 7.5 percent 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 percent 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 percent in the first quarter of this fiscal due to the coronavirus pandemic and resultant lockdowns.

China’s economy grew by 4.9 percent in July-September this year, faster than the 3.2 percent growth in April-June 2020.

Times2 Desk
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