GDP slump

India's GDP growth slumping to 3.1% during the last quarter of FY-2020 is a sign that the country's economy is heading for greater turbulence. The impact of the Coronavirus pandemic which affected businesses for a little over two months is broadly visible on the GDP data. Though worrying, the readings don't come as a big surprise as the Indian economy had been on a steady decline even before the arrival of the pandemic. It is feared that the figures could get even worse as restrictions and lockdowns continue to trammel people's movement, hurting economic activities severely. It is sad that Asia's third largest economy, which was the locomotive to global economic growth until recently, is in the possibility of slipping into a full-scale recession, the first time in 41 years.

Chandan Kumar Nath,

Sorbhog, Barpeta