Hit by coronavirus pandemic, India's GDP shrinks | All you need to know

Hit by the Covid-19 pandemic, India's Gross Domestic Product (GDP) has shrunk by 23.9 per cent in the first quarter of the financial year 2020-21. The GDP growth data accounts for the months of April, May and June - when a strict national lockdown was in place in the country due to the coronavirus pandemic. The year-on-year GDP contraction during the June quarter (Q1FY21) is India's worst growth performance since the country started reporting quarterly GDP data in 1996.

"GDP has shrunk from Rs 35.35 lakh crore in Q1 of 2019-20 to Rs 26.90 lakh crore in the first quarter of Q1 of 2020-21, showing a contraction of 23.9 per cent as compared to 5.2 per cent growth in Q1 2019-20," an official statement by the National Statistical Office (NSO) said.

Here's all you need to know.