The Indian economy has contracted by 7.3 percent in FY21. This is the worst in four decades but it is also because of the worst pandemic in a 100 years.
However, the 7.3 percent contraction is better than what most economists had feared, which was a contraction of 8 percent in the GDP.
Growth plunged maximum in Q1FY21 by a never heard before rate of 24.4 percent. Q2FY21 also saw a contraction of 7.3 percent, but since then growth is in the green and in Q4FY21 the growth rate was 1.6 percent.
To discuss all the aspects of the Indian economy going forward, Latha Venkatesh spoke to Soumya Kanti Gosh, Group Chief Economic Advisor at State Bank of India; Pronab Sen, Former Chief Statistician; Abhishek Upadhyay, Senior Economist at ICICI Securities Primary Dealership and Sudipto Mundle, Distinguished Fellow at NCAER.
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