New Delhi, (Prensa Latina) India has fallen into a technical recession for the first time since its independence from British colonial control in 1947, the National Office of Statistics reported on Saturday.
India's GDP shrunk by 7.5 percent from July to September, in comparison with the same period last year, India Times website reported.
In the first quarter of 2020-2021 fiscal year (from April to March), GDP shrunk by 23.9 percent, an unprecedented figure amid the national measures to curb the spread of Covid-19, which destabilized the economic activity in this South Asian country. Meanwhile, the Indian manufacture sector recorded a 0.6-percent growth in July and September after shrinking by 39 percent in the previous quarter.
The 7.5-percent reduction of GDP from July to September contrasted with the 4.4-percent growth of the same quarter last year, the source added.
This week, a strike staged by 250 million workers and farmers, together with students and women, launched a list of demands to the government, which include the need to implement welfare policies to help the masses affected by the economic effects of Covid-19.
The strike and demonstrations are taking place when the economic down effects due to the crisis caused by the current pandemic have pushed India into a recession and exacerbated the existing social inequality and worsened the rise in unemployment.
mh/aph/agp/abm/gdc
In the first quarter of 2020-2021 fiscal year (from April to March), GDP shrunk by 23.9 percent, an unprecedented figure amid the national measures to curb the spread of Covid-19, which destabilized the economic activity in this South Asian country. Meanwhile, the Indian manufacture sector recorded a 0.6-percent growth in July and September after shrinking by 39 percent in the previous quarter.
The 7.5-percent reduction of GDP from July to September contrasted with the 4.4-percent growth of the same quarter last year, the source added.
This week, a strike staged by 250 million workers and farmers, together with students and women, launched a list of demands to the government, which include the need to implement welfare policies to help the masses affected by the economic effects of Covid-19.
The strike and demonstrations are taking place when the economic down effects due to the crisis caused by the current pandemic have pushed India into a recession and exacerbated the existing social inequality and worsened the rise in unemployment.
mh/aph/agp/abm/gdc
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