India's GDP Contracts By 23.9%, Worst In Over Four Decades; Other Top Stories

Updated: September 01, 2020 07:33 IST

India's gross domestic product or GDP contracted 23.9 per cent in the April-June period - much worse than economists' estimates, official data showed. Pranab Mukherjee, the elder statesman of Indian politics, has died at 84.

India\'s GDP Contracts By 23.9%, Worst In Over Four Decades; Other Top Stories
The Indian economy declined by a record 23.9% in the first quarter of 2020-21 (April-June), reflecting the economic cost of the complete lockdown imposed to fight the spread of the coronavirus that was in place in April and May, the first two months of the period. India said on Monday that it had pre-empted "provocative military movements" by China to change the status quo along the Line of Actual Control (LAC) on the southern bank of Pangong Lake, a development that widened the trust deficit between the two sides and dealt a blow to efforts to reduce tensions. Hindustan Times
India\'s GDP Contracts By 23.9%, Worst In Over Four Decades; Other Top Stories
In a major flareup in eastern Ladakh, the Indian army has thwarted an attempt by Chinese troops to transgress and grab land on the southern banks of Pangong Tso on the night of August 29-30. Former President of India and stalwart of Indian politics Pranab Mukherjee who was often called the "man of all seasons", died at the Army's Research and Referral Hospital in New Delhi on Monday after ailing for some weeks. The Asian Age
India\'s GDP Contracts By 23.9%, Worst In Over Four Decades; Other Top Stories
Lawyer-activist Prashant Bhushan, held guilty of contempt of his tweets criticising Chief Justice of India SA Bobde, former CJIs and the Supreme Court, was asked to pay notional fine of Re 1 by the top court on Monday. Indian economy saw its steepest fall in GDP in April-June 2020, the first quarter of this fiscal, as it contracted by 23.9 per cent-- negative growth for first time-- as coronavirus-related lockdown weighed on declining consumer demand and investment. Deccan Chronicle

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