Gross Domestic Product [GDP]  at constant (2011-12) prices  reports a contraction of 23.9 percent during Q1 of the current financial year,   compared to 5.2 percent growth recorded  in the corresponding quarter of 2019-20. In April-June period, it suffered a contraction for the first time since India began maintaining quarterly records in 1996.This steep fall is also against a growth of 3.1 per cent in Q4 [January - March] of FY 2019-20.

With this record of GDP growth during Q1, 2020-21 India became the fastest shrinking economy among the G-20 countries (Fig.1).

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