Das felt that 'the year bygone could be marked as one of the toughest periods for human society with the unprecedented health and economic catastrophe'.
It can be noted that there has been a slew of reports lately about a stronger recovery being underway after the jolt caused by the pandemic.
The US is the worst affected country from the pandemic with 23,308,712 people hit with the coronavirus, according to the Johns Hopkins Coronavirus tracker.
The review said the Cyclone Ockhi in 2017, and severe floods resulting from extreme rainfall events in 2018 and 2019 have started to hit the state's economy.
State statistics office Destatis said on Thursday that only the construction sector showed an upturn as industry and services saw deep declines.
The Union Minister was speaking here during the launch of the 'Single Window Clearance System', an online platform to obtain clearances for smooth operationalisation of coal mines.
India's GDP is estimated to contract by a record 7.7 per cent during 2020-21 as the COVID-19 pandemic severely hit the key manufacturing and services segments.
Last year, India rose to the occasion as one collective entity in handling the pandemic with considerable results, Venkaiah Naidu said.
The minister observed that new markets were being explored aggressively to enhance the reach of Indian products globally.
That’s because many (clearly barring China) are highly dependent on either services sector, exports or tourism.
As per the GDP estimates, all sectors are expected to post a contraction for the full fiscal, except agriculture.
The GDP contracted by a record 23.9 per cent in the April-June quarter following a national lockdown to prevent the spread of the coronavirus.
As per the first advanced estimates of the national income released by the National Statistical Office on Thursday, there was contraction in almost all sectors with the exception of agriculture.
With the economy bouncing back after months of slowdown, the job scene seems to be looking up, both in the private as well as government sectors.
Public broadcaster NHK cited that the Dai-ichi Life Research Institute is predicting a loss of 75,000 jobs over six months after the potential declaration.