The Indian economy entered a technical recession after GDP growth contracted by 7.5% during the July-September quarter, the second quarter in a row.
GDP at constant (2011-12) prices in Q2 of 2020-21 is estimated at Rs 33.14 lakh crores, as against Rs 35.84 lakh crores in Q2 of 2019-20, showing a contraction of 7.5% as compared to 4.4% growth in Q2 of 2019-20: Ministry of Statistics & Programme Implementation— ANI (@ANI) November 27, 2020
The real GDP had witnessed a record slump of 23.9% in previous quarter (April-June 2020), the steepest fall ever (and the first contraction in 40 years). The July-September 2019 quarter had witnessed a GDP growth of 4.4%.
India was in a recession last in 1979 when the real GDP fell 5.2%.