ADB: Indian FY20 GDP to contract 9%, FY21 to grow 8%
Sep 17, 2020 12:00
See Full-size Table Here
India’s gross domestic product (GDP) growth for fiscal year (FY) 2020 ending on 31 March 2021 is forecast to contract by 9.0% as the coronavirus disease (COVID-19) pandemic weighs heavily on economic activity and consumer sentiment in the country, according to a new report by the Asian Development Bank (ADB).
In itsAsian Development Outlook (ADO) 2020 Update, ADB forecasts a strong recovery for the economy in FY2021, with GDP to grow by 8.0% as mobility and business activities resume more widely.
“India imposed strict lockdown measures to contain the spread of the pandemic and this has had a severe impact on