For the first time in the history of India, RBI now cast the technical recession in India. Michael Patra, Reserve Bank of India’s deputy governor in charge of monetary policy, stated. As per the economists, Indian economy shrank for 23.9 per cent in its GDP for April June quarter and for the July – September 2020, the contraction could be 8.6%. According to a few economists, India has entered a technical recession in the first half of 2020-21.

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