First Technical Recession in India
- In its latest monthly bulletin for November 2020, the Reserve Bank of India has dedicated a chapter on the “State of the economy”. The idea is to provide a monthly snapshot of some of the key indicators of India’s economic health.
- As part of the exercise, the RBI has started “nowcasting” or the prediction of the present or the very near future of the state of the economy.
- According to the first “nowcast” predicts, India’s economy will contract by 8.6% in the second quarter (July, August, September) of the current financial year.It implies India that has entered a “technical recession” in ....
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