This is the first apparent recession in the history of independent India. April to June as the month.

The Reserve Bank of India (RBI) has said that official figures on the country's recession will be released on November 27.

"This is the first apparent recession in India since independence," the RBI survey report said. April to June, at this time. "

If the GDP falls in two or three quarters in a row, accompanied by unemployment and job losses, it is generally called a recession in the economy. And if it is thought that the recession is temporary, the economy has started to turn around again in the following quarters, then the recession is called 'technical recession'. It is also called temporary recession.

According to the RBI, the so-called recession is not a recession even if it meets all the conditions. Because, even though the engine of the market stopped in those two quarters, it has started running again in full swing.

The report also said that the country's GDP has been declining for two consecutive quarters of the current financial year. GDP fell 7.6 percent in the second quarter until September. And from last April to June, the country's economy has declined by 24 percent.

However, the survey hopes that the country's economy will pick up again in the third quarter of the current fiscal year from October to December. Earlier, RBI Governor Shaktikant Das had said that the fiscal growth would take place even before the deadline.

The report also said that in the Corona situation, the amount of cash deposited in banks in the country has increased a lot. From April to June 2019, the country's GDP grew from 7.9 percent to 21.4 percent in the same period this year.

The report also expressed concern that the global economy is having a difficult time due to the Corona crisis.