Possible Impact of Pandemic & Lockdown on Indian Economy

• The National Statistical Office (NSO) has put out the figures of Gross Domestic Product (GDP) for Q1 of at -23.9%
• As compared with the G7 countries- US, UK, Japan, France, Germany, Italy and Canada, India was the worst hit. GDP for US for example, shrunk by 9.5%. China in fact registered a growth of 3%
• Construction contracting 50.3 % and Trade, hotel, transport, communication contracting 47% are the two big negative surprises
• Investments have been in the negative territory for the last 3 quarters
• Consumption, the major driver of Indian GDP contracted by 27%
• The only sector that has grown is Agriculture, Forestry and Fishing at 3.4%
• Manufacturing industry saw a 39.3% fall
• This is the worst quarterly GDP numbers ever recorded since India started compiling GDP data on quarterly basis in 1996

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