‘India in Technical Recession But...’: What Newspapers Said on GDP
India’s official Gross Domestic Product figures for the second quarter contracted by 7.5%
India’s official Gross Domestic Product figures for the second quarter, from July to September of the financial year 2020-21, contracted by 7.5 percent. This marks India’s fall into its first ever technical recession after two straight quarters of GDP contraction since it began releasing quarterly estimates of GDP in FY98.
As experts and analysts discuss what it means for the economy, here’s how newspapers covered the news:
“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,” the Ministry of Statistics & Programme Implementation said.
“Quarterly GVA at basic prices at constant (2011-12) prices for Q2 of 2020-21 is estimated at Rs 30.49 lakh crores, as against Rs 32.78 lakh crores in Q2 of 2019-20, showing a contraction of 7%,” the ministry stated.
The ministry further said that agriculture, forestry and fishing, manufacturing, and electricity, gas, water supply and other utility services witnessed positive growth during the quarter.
(With inputs from The Times of India, Hindustan Times, The Indian Express, The Telegraph)
(At The Quint, we are answerable only to our audience. Play an active role in shaping our journalism by becoming a member. Because the truth is worth it.)