By Reuters Staff
FILE PHOTO: A worker pushes a wheelbarrow to collect cement at a construction site of a residential building in Mumbai, India, August 31, 2018. REUTERS/Francis Mascarenhas
NEW DELHI (Reuters) – The Indian government said on Thursday it expects the economy to contract 7.7% in the fiscal year ending in March, compared to 4.2% growth a year earlier.
Many private economists have upwardly revised their forecasts on India to a contraction in the range of 7-9.5% for the 2020/21 fiscal year, after the central bank revised its estimate to 7.5%.read more
India forecasts 7.7% GDP contraction in 2020/21 – Reuters India
