As India is releasing the GDP numbers for the 1st quarter of the financial year 2020-21 on August 31st
Indian economy may have shrunk 14-26% in Q.1, The economic times have conducted a poll of 11 economists to know the Impact of COVID 19 on the Indian economy in 1st quarter.
Their contraction estimates ranged from 13.6% to 25.7% and are in line with those seen in other countries hit hard by the coronavirus.
The Indian economy grew 4.2% in FY20 and 3.1% in the quarter ended March 31, signalling that growth was already slowing before the pandemic took hold. The June quarter growth in FY20 was 5.2%.
As India has the highest number of fresh daily infections and is third highest in terms of cumulative cases in the world, behind the US and Brazil, So, they called for more measures from the government to support growth.
More details can be read at:- COVID-hit Indian economy may have shrunk 14-26% in Q1, say economists in ET poll
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