 "From April to June, gross domestic product fell from the first quarter by 11.9 percent in the 27 member states of the European Union, and by 12.1 percent in countries that use the euro currency")
While chief economic advisor V Anantha Nageswaran does not foresee a recession in India this financial year, the global economy could indeed be caught in its throes or suffer a significant slowing down, depending on how long the Russia-Ukraine war lasts. If that happens, India cannot avoid the repercussions, though it might not enter into a recession again.
India's economic growth, at 8.7 per cent in 2021-22, was largely due to the low base caused by a 6.6 per cent contraction in GDP the previous year. But if the pre-Covid period of 2019-20 is taken as the base, the economy
