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Whatever the calculation, India's Q1 GDP contraction is severest among all

India's economy shrank 23.9 per cent in the first quarter of 2020-21 over the same quarter of the previous year.   A few days prior to the release of India's data, it was reported that the US economy had plunged 34.3 per cent in the very same quarter. A few days later the news was that South Africa's economy had shrunk by 50 per cent.  This gave rise to a debate about whether India's economy shrank at the fastest pace, or had that dubious distinction gone to US or South Africa. However, there shouldn't have been any confusion, as various e.....

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