V-shaped Recovery

A V-shaped recovery is a type of economic recession and recovery that resembles the shape of alphabet V in charting. A V-shaped recovery involves a sharp revival of the economy to the previous peak after a sharp decline. The Finance Ministryís latest Monthly Economic Review report stated that the Indian Economy is witnessing a V-shaped recovery as the decline in the GDP has narrowed to 7.5% in the second quarter of 2020-21 from 23.9% in April-June quarter.

Current Affairs