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GDP contracted 10.7% in Q2
Why is it in news?
- According to SBI Research report, India’s GDP likely contracted 10.7% in the second quarter.
More from the Report:
- With contraction of 10.7% in the second quarter, a further recovery likely in the third quarter.
- GDP had decline by 23.9% in real GDP in Q1 FY21.
- There is improvements in economic indicators over October and November.
- The index of industrial production (IIP) and manufacturing sector output may grow by 2-3% in October 2020 .
- Goods and Services Tax collections were expected to improve further in November.