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

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