New Delhi: Due to economic recession and corona crisis, the speed of Indian economy has fallen to the lowest in the last 11 years. According to the latest data released by the Ministry of Statistics, the GDP growth rate in 2019% 20 fell to 4.2% from 6.1% last year, which is the lowest since the Modi government came to power in 2014. In the last quarter of 2019-20 i.e. from January to March 2020, the pace of GDP has fallen to just 3.1%.
These figures show that the economy was weakening even before the corona crisis spread more in India and due to the lockdown it would see more impact in the first quarter of 2020-21 and the decline would be bigger. On Friday, the Commerce Ministry released data about the condition of 8 core industries during the lockdown in April 2020.
The index of 8 core industries fell 38.1% in April 2020 over April 2019. Production of coal, steel and cement declined drastically in April 2020 due to the lockdown. There has been a decline of 83.9% in steel production and 86% in cement production.
