Economic Costs

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COVID-19 Impact: India facing worst recession since Independence; economy to shrink by 5% in current fiscal, says CRISIL
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COVID-19 Impact: India facing worst recession since Independence; economy to shrink by 5% in current fiscal, says CRISIL

In the past 69 years, India has seen a recession only thrice - as per available data - in fiscals 1958, 1966 and 1980. The reason was the same each time - a monsoon shock that hit agriculture, then a sizeable part of the economy.