Quote from: Sithara007 on Today at 02:51:13 AM

Quote from: teosanru on September 01, 2021, 05:30:49 PM

It is an absolutely misrepresented number, the government has given 20% growth from Q1 2020-21 to Q1 2021-22, while Q1 2020-21 was a complete lockdown quarter in which lockdown opened merely for 10-15 days whole Q1 2021-2022 had two proper months of functioning of Economy, the comparison is being done with an outlier, while Indian government was giving excuses about lockdown when GDP fell down by 24% Quarter on Quarter in 2020-21, now they are coming ahead and taking credit for this. Lol

Let me explain, suppose you have something that is worth ₹100, now the prices of that thing fell by 24%(Indian GDP fell by 24% in Q1 2020-21) which means to 76, now it has risen by 20% which means 76 + 20% = 91, this means overall economy has fallen by 9%, Also not to forget, as compared to Q4 2020-21 which was immediately preceeding quarter, the GDP fell by 17%.

Numbers are deceptive unless you read them thoroughly.

Still the numbers indicate that a remarkable recovery was being made. India was one of the countries which got worst effected by the pandemic. The death toll was never reported correctly, but is believed to be in millions. A majority of those who were working in the informal sector lost their jobs. If the economy could recover (at least partially) despite all this, then I would say that it is remarkable. And also, we are talking about the April-June quarter. This is the period when the second wave of COVID hit India.

How is it a remarkable recovery? It's not the covid wave that affects the GDP but instead, it's the lockdown that does, during the first wave there was a nationwide complete lockdown, all sorts of production were halted and almost no sales were made in the capital goods sector, it was only FMCG which was moving, but in the second wave, there was no nationwide lockdown, there were state-wise lockdowns which too weren't that strict, many manufacturing houses were open, it was the retail outlets that were affected in the second wave, even online delivery was open. Also losing of jobs has very little relation to GDP, the unemployment rate which gives a better idea of its recovery which unfortunately still is too high.