A Major Setback to the Economy
Jahnavi Rathore -
India is staring at a recession as it records the worst quarterly GDP data, witnessing a long-awaited disaster. The GDP is skating on thin ice with a sharp decline of 23.9%. The quantum of contraction seems to have surprised many, but should not have. While the economic trajectory going forward will be affected by the further spread of the novel virus, the situation will be hampered. This has been caused due to a combination of disparate factors, the proximate cause being the curtailing of activities since the lockdown.