Worst GDP Contraction For India In Over 2 Decades? Data To Be Released Today

India's gross domestic product or GDP is widely expected to have shrunk in the April-June period, as data covering the quarter fully captures the damage caused by the fast-spreading coronavirus pandemic. Many economists expect the country to suffer its worst quarterly de-growth since the mid-1990s, with estimates of contraction as bad as 25.9 per cent, as the pandemic-induced disruptions hurt businesses and livelihoods despite monetary and fiscal support of Rs 21 lakh crore. Currently, the country is undergoing a strategic removal of restrictions imposed in March to curb COVID-19 infections, which led to thousands of job losses and forced the majority of workforce to stay indoors, causing a big blow to an already-slowing economy. Official data will be released at 5:30 pm.


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