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India enters recession as GDP contracts 7.5% in July-September

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India enters recession as GDP contracts 7.5% in July-September

The Indian economy has officially entered a technical recession, with two consecutive quarters of negative growth in gross domestic product (GDP).

Real GDP for the September quarter contracted 7.5 per cent year-on-year, on the back of the steep contraction in manufacturing, construction, and services, data released by the National Statistical Office showed on November 27.

The pace of contraction was slower than analyst estimates. Analysts polled by news agencies Reuters and Bloomberg had expected a contraction of 8.8 per cent and 8.2 per cent, respectively, for the second quarter.

However, the data also showed that the country has begun its gradual recovery following the nationwide lockdown in April, May, and June which had flatlined the economy.

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The real GDP for April-June 2020 had contracted 23.9 per cent, the steepest fall ever (and the first contraction in 40 years). The July-September 2019 quarter had witnessed a GDP growth of 4.4 per cent.

This means that sequentially, India’s GDP grew by 23 per cent in the July-September quarter.

Once again, the agriculture sector was the main driver of the economy. Agriculture grew 3.4 per cent year on year, the same as in the first quarter of the current fiscal year.

The most heartening revival was seen in the manufacturing sector, which rose 0.6 per cent in July-September following a contraction of 39.3 per cent in April-June.

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Electricity, water, gas and other utility services also rose 4.4 per cent after contracting by 7 per cent in April-June.

As a percentage of GDP, government final consumption expenditure contributed 10.9 per cent, lower than 18.1 per cent in April-June and 13 per cent in July-September last year, while private final consumption expenditure was 54.2 per cent of GDP, compared with 56.5 per cent in the same period last year.

Gross fixed capital formation was 29 per cent, almost the same as July-September last year.

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Haryana

Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.

The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.

Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.

With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.

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The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.

Weather and AQI predictions in Delhi for next 7 days:

DateTemperatureSky
October 23, 202432.93 °CSky is clear
October 24, 202432.69 °CSky is clear
October 25, 202432.5 °CSky is clear
October 26, 202432.07 °CSky is clear
October 27, 202430.69 °CSky is clear
October 28, 202431.29 °CSky is clear
October 29, 202432.09 °CSky is clear

Weather in other cities on October 22, 2024

CityTemperatureSky
Mumbai28.35 °CLight rain
Kolkata28.84 °CSky is clear
Chennai28.94 °CLight rain
Bengaluru25.53 °CModerate rain
Hyderabad27.75 °CModerate rain
Ahmedabad31.9 °CSky is clear
Delhi32.93 °CSky is clear

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