New statistics of the Indian economy are worrisome..!

It is out in numbers. The sad state of the Indian economy which we have always been discussing for the past 5 months has been represented in the numerals and guess what, the economy took a steep hit as expected by economists, of course, more than what they had expected.

This vital data released by NSO, which comes under the Ministry of Statistics and Programme Implementation (MoSPI) and it shows that how terribly the Nirmala Sitharaman and co failed to preserve the Indian economy in a healthy state.

The Indian economy contracted by a record 23.9% in the April-June quarter, as the country went into the lockdown to curb the spread of the coronavirus. The first quarter of 2021 is much sharper than expected but the situation has been worse during the second quarter.

Though there many countries that are worriedly impacted by the COVID-19, Narendra Modi led ‘Aatma Nirbhar’ Bharat tops the list because of its poor management and lack of prophylactic measures.

This is the all-Time worst performance since quarterly data started reporting in 1996. If we take a closer look into the GDP data, it shows that construction took the steepest hit along with manufacturing and the trade, hotels, and transport segment.

The only pro is the better performance in the Agricultural sector that grew at 3.4% and the Construction sector was contracted by 50.3% at an all-time low.

Coming to some other prominent sectors that took the worst hits, Mining sector contracted 23.8%. Manufacturing contracted 39.3%. Trade, hotel, transport, communication contracted 47%.

The financial services sector contracted by 5.3%. Public administration defense and other services contracted by 10.3%. However, rural activities seem to be relatively more resilient and might benefit from the government’s rural-focused employment schemes in the coming months.