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Rediff.com  » News » Dom's Take: GDP contraction act of God too?

Dom's Take: GDP contraction act of God too?

By DOMINIC XAVIER
September 01, 2020 16:25 IST
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India's GDP shrank by a shocking 23.9 per cent in the April-June quarter as the coronavirus and extended lockdown battered an already slowing economy.

On August 27, after chairing a Goods and Services Tax Council meeting, Finance Minister Nirmala Sitharaman declared, 'This year we are facing an extraordinary situation... We are facing an act of God.'

The finance minister was referring to the slowdown in the economy as a result of the COVID pandemic.

Dominic Xavier wonders whether the steep decline in GDP numbers should be considered as an act of God too.

 

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