Care Ratings: India’s Q2 GDP Growth - Review
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Care Ratings Research Report
The Indian economy in the July - September quarter staged an impressive recovery from the record decline of the preceding three months, suggesting that the resumption of economic activity has been gathering pace.
Despite the improvement, the domestic economy in Q2 FY21 continued to be in contraction mode for the second successive quarter and thereby was technically in a recession. In terms of size, the domestic economy shrunk to the level of December 2017.
The gross domestic product growth in Q2 FY21 declined 7.5% YoY was sharply lower than the 4.4% growth in Q2 FY20.
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