The Indian economy contracted nearly 24 percent in the first quarter primarily due to the COVID-19 pandemic. This is the worst economic contraction on record and is sharper than the CNBC-TV18 poll of a 20 percent drop.
Reacting to the GDP data, Chief Economic Advisor Krishnamurthy Subramanian had said that the GDP print was on expected lines given the global pandemic. However he added that India is witnessing a V-shaped recovery as the economy is unlocking. To discuss the Q1 GDP print, Shereen Bhan spoke to Principal Economic Adviser Sanjeev Sanyal.Watch the video for the complete discussion.