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Showing posts from September, 2020

A Great Fall of 23.9%

Figures above 50,000 look good in salary. But what if it's a contagious flame of a pandemic? India is witnessing a hike of more than 90,000 COVID positive cases each day. Amidst this situation, students are driven by the career forces to appear in the JEE  and NEET exam where social distancing is merely visible. Meanwhile, data released by the government confirmed that India is confronting a GDP contraction by 23.9% for the first quarter of 2020, i.e., for the April - June period. Though the steepest decline in annual GDP of India was recorded during 1979-80, this marked the worst incident of negative quarterly GDP growth in India since 1996 (quarterly GDP was recorded for the first time in 1996).   Although China recorded positive growth, major economies are facing a downfall in the quarterly GDP as compared to 2019. It cannot be denied that lockdown is one of the crucial reasons for it.  The United Kingdom(UK) reported a 21.7% shrinkage in their quarterly GDP, wher...