GDP to Contract by 18.3% as Indian Economy Likely to See Record Quarterly Slump Due to Covid-19

Economists in a Reuters poll predicted that gross domestic product in world's fifth-largest economy will contract by 18.3% in the June quarter, compared to 3.1% growth in the previous quarter, the worst performance in at least eight years. The same economists predict a contraction of 8.1% and 1.0% in the September and December quarters respectively, which would dash any hopes of an economic recovery this year.

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