>"India is no longer staring at a recession but a ‘depression’ and the Govt may find it difficult to pay salaries. Size of the Indian economy could slump from ₹200 lakh Crore to ₹130 lakh Crore"

India is no longer staring at a recession but a ‘depression’ and the Govt may find it difficult to pay salaries. Size of the Indian economy could slump from ₹200 lakh Crore to ₹130 lakh Crore It will be Very difficult in coming years but I'm sure one day India will rise above all and growth will be back

Size of the Indian economy could slump from ₹200 lakh Crore to ₹130 lakh Crore

The Indian economy is in a tailspin and India may actually be looking at something worse than a recession. India has never faced a sustained long-term downturn in economic activity in its 73 years of existence as an independent country. But there is now every possibility that India is looking at a ‘depression’ for the first time in its history, a possibility flagged by several economists. However, several economists warn that the impact will likely be much worse. Surajit Das, assistant professor at JNU’s Centre for Economic Studies and Planning (CESP), puts a perspective to the situation.