[DEC]2020 ECONOMIC REVIEW Flashcards
1
Q
Timeline of growth rate & reasons?
A
January-March 2018 ->8.18%
growth in the gross domestic product (GDP)
- December 2019 -> 4.08%
- lingering effects of demonetisation and a flawed implementation of the Goods and Services Tax.
- January -March 2020 -> 3.09%
- country’s growth for financial year
2019-20 was 4.2%. Several vital signs, including private consumption and exports, were at their worst levels in five or more years, - COVID-19 and the lockdown accelerated its collapse and unleashed widespread distress for households and wage-earners
- April-June->economy contracted nearly 24% in the
- Marked by a progressive unlocking of the economy, by the end of the July-September quarter, the Home Ministry had even permitted the resumption of public transit systems, including metros.
- July-September quarter-> India managed to record just a 7.5% contraction
