If one looks at year-on-year growth, the recovery is V-shaped after the first quarter because of 20 per cent economic expansion. However, a low base of 24 per cent contraction in gross domestic product (GDP) during the first quarter of the previous financial year has caused this upward jerk.
Is India on V-shaped recovery?
The government used the Year-on-Year (Y-o-Y) comparison method — which showed that the GDP grew by 20% in Q1 this year as against the Q1 last year — to claim that India was witnessing a V-shaped recovery.
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| Industry | GVA for a V-shaped recovery |
|---|---|
| 2017-18 | 29,62,815 |
| 2018-19 | 31,57,366 |
| 2019-20 | 33,05,273 |
| 2020-21 | 25,65,909 |
What is the V-shaped recovery?
A V-shaped recovery is characterized by a quick and sustained recovery in measures of economic performance after a sharp economic decline. Because of the speed of economic adjustment and recovery in macroeconomic performance, a V-shaped recovery is a best-case scenario given the recession.
Why do they call it AK shaped recovery?
“It gets its name from the shape of the letter K—that is the trajectory of part of the letter points up and the other points down.” It appears that the U.S. recovery from the economic impact of the COVID-19 pandemic is a K-shaped recovery.
What is India’s main export?
India’s major exports included petroleum products, gems and jewelry, and drug formulations. Additionally, the value of the various types of machinery India exported was valued at over 29 billion U.S. dollars. Other major exports include spices, tea, coffee, tobacco in agriculture, along with iron and steel.
What’s the future of Indian economy?
It will by 2035 overtake China as the world’s most populous country. This means a deep domestic market which will likely make India the world’s third largest economy by 2035 after China and the United States measured by market exchange rates. It is already the third largest economy measured by purchasing power parity.
What does V shape mean?
Definition of V-shaped
: having the general shape of the letter V or resembling a V in cross section.
What is V shape?
In a V-shaped recession, the economy suffers a sharp but brief period of economic decline with a clearly defined trough, followed by a strong recovery. V-shapes are the normal shape for a recession, as the strength of the economic recovery is typically closely related to the severity of the preceding recession.
What is a V shaped recession and how does it differ from a U shaped recession?
A U-shaped recovery represents the shape of the chart of certain economic measures, such as employment, GDP, and industrial output. … A U-shaped recovery is similar to a V-shaped recovery except that the economy spends a longer time slogging along the bottom of the recession rather than immediately rebounding.
What is K-shaped recovery Upsc?
A K-shaped recovery is a post-recession scenario in which one segment of the economy begins to climb back upward while another segment continues to suffer. If illustrated, the economic growth would roughly resemble the two diverging diagonal lines of the letter “K” – hence the name.
How K-shaped recovery is widening US inequality?
The divergence during the health crisis exacerbated racial, wealth, social and gender disparities, according to Peter Atwater, a lecturer at William & Mary, a university in Virginia, who popularized the term “K-shaped recovery.” He described it as “stacked inequity on one side and stacked privilege on the other.” More …