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Growth decline due to lockdown; V-shaped recovery in some sectors: CEA

He said indicators like rail freight traffic and electricity consumption are pointing to a recovery in economic activity

CEA K Subramanian
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Chief Economic Adviser Krishnamurthy Subramanian at his office in New Delhi. PTI

Press Trust of India New Delhi
Attributing the 23.9 per cent contraction in GDP in April-June to the coronavirus lockdown, Chief Economic Adviser K V Subramanian on Monday said the country will witness better performance in the subsequent quarters, aided by a 'V-shaped' recovery in various sectors.
 
He said indicators like rail freight traffic and electricity consumption are pointing to a recovery in economic activity. "Given the intensity of the lockdown...higher intensity, this (growth number) is actually along expected lines. What is important is that India is experiencing a V-shaped recovery after the unlock has been announced,” he told PTI.
 
Citing some examples, he said railway

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First Published: Aug 31 2020 | 9:36 PM IST

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