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India ranks fifth in the world and third in Asia after China and Japan from the vision of GDP but this year whole world has suffered an economic recession due to lockdown and Corona crisis. India's economy is also touched by this.

In the April to June quarter GDP of the country witnessed the contraction of 23.9% which is highest recession in the economy ever but it was expected that in July to September quarter the GDP will recover and will end on negative of 8.6 % approx.

But it has been recovered more than expected as it has been reached at {-7.5%} which is a great sign for the economy. It proves that the India is on the right track for becoming self reliant. 

The agriculture sector has done a great work as it has an increment of 3.4% in GDP. Manufacturing department has a growth of 0.6% in this quarter and there is also a growth of 4.4% is observed in the field of Electricity.

Apart from it, rest all sectors is on the fall. Mining, construction, trade and hotels, Finance and defence sectors shrink 9.1%, 8.6%, 15.6%, 8.1% and 12.2% respectively.
It seems that there is a huge technical recession has been observed in this quarterly. The technology sector has worse effect due to the lockdown. There is a boom observed in the coal production, automobiles and freight by the railways.

Last year July to September quarterly GDP was increased to 4.4%. The second quarterly GDP of the running year is 33.14 lakh crore  rupees and that of last year is 35.84 lakh crore. Export has also been improved in this quarter.

Economy of India is one of the fastest growing economy in the world, that's why the condition of Indian economy is not too worse even in this critical condition when world is going to an economic depression. India's economy is recovering very faster than anyone else.
According to Gopal Pillai,
Indian small businesses form the backbone of the economy, and so, when they are impacted, the whole economy gets impacted.

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