India News | Not Yet 'V-shaped' Recovery, Sectors of Economy Still 'crippled': Chidambaram
Get latest articles and stories on India at LatestLY. With India's GDP growth at 8.4 percent in the second quarter of 2021-22, senior Congress leader P Chidambaram on Tuesday said it was not yet a V-shaped recovery and there are sectors of the economy that are still "crippled".
New Delhi, Nov 30 (PTI) With India's GDP growth at 8.4 percent in the second quarter of 2021-22, senior Congress leader P Chidambaram on Tuesday said it was not yet a V-shaped recovery and there are sectors of the economy that are still "crippled".
"Let us extend a cautious welcome. It is NOT yet a 'V' shaped recovery. The fine print will bear that out," the former finance minister tweeted.
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India's GDP growth slowed to 8.4 percent in the second quarter of 2021-22, mainly due to waning low base effect, but the economy has surpassed the pre-COVID level, official data showed on Tuesday.
"In 2021-22, GDP growth in Q1 was 20.1 percent on a previous year's Q1 growth of -24.4 percent. In Q2, the growth is reported as 8.4 percent on a previous year's Q2 growth of -7.4 percent," Chidambaram noted.
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There are sectors of the economy that are still "crippled" and need help and time to recover, he said.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)