India’s economy contracts 7.5% in Sept quarter, enters recession
NEW DELHI: India’s economy contracted for the second successive quarter but the pace of decline narrowed sharply in the three month period ending September as the farm sector held strong while manufacturing returned to the positive zone. However, the crucial services segments fell for the second quarter in a row.
Data released by the National Statistical Office (NSO) on Friday confirmed that the economy plunged into recession with two successive quarters of contraction. This is the first time that the economy posted two successive contractions since the go nment started publishing quarterly GDP data in 1996.
Experts said the worst may be over for the economy, although risks persisted, and cautioned about the impact of the fresh wave of Covid-19 infections and localised lockdowns on demand and growth in the months ahead. For the 2020-21 fiscal year, the economy is estimated to still post a contraction, possibly in double digits, and rebound next year as economic activity gathers momentum and the impact of the string of go nment measures to help revive growth kicks in.
The NSO data showed the economy contracted by 7.5% in the July-September quarter, the second quarter of the country’s 2020-21 fiscal year, narrower than the record 23.9% decline posted in the April-June quarter. India’s economy still remains in the league of large economies which have contracted the most in the second quarter, with only the UK, which declined 9.6% in the September quarter, faring worse. is the only large economy that posted growth in the September quarter (4.9%).
NSO的数据显示，印度经济在7 - 9月，也就是2020-2021财年的第二季度，萎缩了7.5%，低于4 - 6月当季创纪录的23.9%降幅。印度经济在第二季度仍然是萎缩最厉害的大型经济体之一，仅次于英国，英国经济在该季度下降了9.6%。是唯一一个在该季度实现增长的大型经济体(增幅达到4.9%)。
The go nment’s chief economic adviser KV Subrnian said the data for the second quarter was better than expected and there was a pential for an upside, but urged caution given that fresh wave of infections.
The numbers showed that the narrowing of contraction was led by the manufacturing sector, ricity, construction and agriculture. The construction sector, which had slumped to a decline of 50.3% in the June quarter, displayed some recovery declining by 8.3%. Since the go nment announced the lifting of the strictest lockdown imposed to prevent the spread of the pandemic in June, several indicators have pointed to a recovery and significant narrowing.
译文来源：三泰虎 http://www.santaihu.com/p/51416.html 译者：Jessica.Wu
Global economy is under pressure. Indian economy will bounce back as soon as vaccine is provided. This is not even a recession. This is a cyclical downturn which is temporary. Paid Media, as always, is exaggerating this to attack the go nment.
Our anti-national presstituteturds are trying really hard to paint a weak picture of the economy when on the ground the situation is exactly the opposite
Thanks to Modi's excellent management of vir s pandemic despite of congiedogs provoking immigrants, muslipigs doing vir sjehad and chings at the border, the economy is still better as compared to others and set to grow further
From minus 23 to minus 7.5 in a quarter with a projection gdp of 8.8 in 2021 is called recovering and bouncing back and not recession.
降幅从- 23%缩小到- 7.5，这是复苏和反弹，不是衰退，预测2021年印度GDP增速将达到8.8%。
Thanks to Modi's excellent management of vir s pandemic and robust economic policies, Indian economy took the lowest hit, bounced back stronger than any other and is still the fastest growing economy in the world
Entire world is negative contracted barring due to lockdowns .
IDIOTIC REPORT .ITS NOT RECESSION.. GRAND RECOVERY OF ECONOMY FROM -23.5%TO -7.5%.. .. EXCELENT PERFORMNCE BY MODIJI.. JAI BHARAT...
H S B
This is expected. You cannot do miracle. Economy is down in the entire world and it cannot be different for India. Service sector slow down is obvious as tourism is yet to take off. And tourism will not start for next 6 months and service sector downtrend will continue for more than a year form now.
If state go nments oppose every initiative undertaken by central go nment to bring in reforms, like the agricultural ones being opposed by selfish brokers and middle men posing as farmers, and the Bullet train as well as others, refineries, power projects, etc. how do you expect the economy to revive?
NONSENSE HEADING BY TOILETEE
indian economy grand recovery from previos -23.5%contraction to drastic reduction to -7.5%.. previous day heading.. govt cant be defamed.. idiotic writer/editor... Modiji good show in grand recovery.. Jai Bharat .
NONSENSE.. INDIA IS THE ONLY ECONOMY DOING WELL ON THIS PLANET TODAY..
Hasan Ali Doulatganjw
Worst go nment ever
Congratulations feku. You are the only Prime Minister who gave India negative GDP for two consecutive quarters.
This is all Fake News. Our greatest of all Prime Minister Modiji has said we are the fastest growing economy in the world, and aa $5 trillion economy, with 100 SMART cities, and a Cashless society, and every Indian has 15 lakhs in their bank account, and 2 crore new jobs every year. So that is the only truth.
Sack the FM & replace by expert economist . GDP is at lowest point and share market is at highest . Hows that possible ?
Inept Go nment. No Excuses !
Feku, aka Surrender Modi, has dest yed the economy beyond repair even before the corona hit India. The pandemic is just the last straw that breaks the elephant's back. The sad fact is that our GDP growth hits 74-year low since Independence. That's why we falls behind Bangladesh in per capita GDP.
Does not matter to Indian public. You keep on bluffing and they will keep on voting for you
Don't forget to blame Nehru RaGa and Priyanka