2022 · Q86
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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- AU-shape
- BV-shape
- CK-shape
- DW-shape
Explanation
After GDP contracted 23.9% in Q1 and 7.5% in Q2 of FY2020-21 (COVID shock), the Economic Survey 2020-21 characterised the subsequent rebound as a V-shaped recovery — a sharp decline followed by a sharp recovery, likening it to the 1991 experience. It did not call it U-shaped (gradual), K-shaped (divergent) or W-shaped (double-dip). Hence option B.