Bhubaneswar (Gautambuddha Das): Everyone knew that the global economy was badly affected by the epidemic. But compared to all other countries, the Indian economy is in a state of disarray, according to estimates. The data was released by the Government of India’s Statistics Department.
The picture of the first quarter of the current fiscal year (April to June) is shocking. India’s gross domestic product (GDP) growth rate is minus 23.6%. This is the first time in its 70-year history that it has been negative. Everyone expected the country’s economy to be declining this year. But no one imagined it would be so narrow. The process of slowing India’s GDP growth began about two years ago. It was down 3% last fiscal year. Even then, the government hid its guilt and hoped it would improve. But in the aftermath of the coronation, the economy is in shambles. A few days ago, Finance Minister Nirmala Sitharaman called it the “Lord’s Leisure” (Act of God). But no one is as vulnerable as India. India is at the bottom of the list in terms of declining GDP growth (down from +3% to -23.4% at the same time) compared to the four fastest growing countries in the world affected by the corona. England (-20.4%), France (-13.8%), Italy (-12.7%), Canada (12%), Germany (-10 / 1%), USA (-5.5%) Countries such as Japan (-4.9%) have seen growth rates fall negatively. However, China’s growth rate, which is highest compared to that of India, has risen by + 3.2% instead of slowing.
