In the first quarter of fiscal year 2020 21 GDP contracted by 23 9 percent and in the second qu...........

Current Affairs (CAPF) Indian Economy

In the first quarter of fiscal year 2020-21, GDP contracted by 23.9 percent and in the second quarter, by 7.5 percent. The Economic Survey, 2020-21 preferred to call it a recovery in

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U-shape

V-shape

K-shape

W-shape

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Explanation:

- U-shape: It suggests a period of stagnation at the bottom before recovery. The economy slows down, hits a trough, and then gradually recovers.

- V-shape: This shape indicates a sharp decline followed by a rapid and robust recovery. The economy quickly bounces back to its pre-crisis level.

- K-shape: This represents a divergent recovery where different sectors or groups recover at varying paces. Some recover quickly while others face prolonged challenges.

- W-shape: Indicates a double-dip recession, where the economy falls into recession, recovers, but then dips again before recovering.

The Economic Survey 2020-21 described the recovery as a V-shape.