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India FY21 GDP likely to contract 12.6%, says NCAER’s Mundle

India’s GDP is likely to contract 12.6 percent for this fiscal, Sudipto Mundle, Distinguished Fellow, National Council of Applied Economic Research told CNBC-TV18 in an interview. He said the economy was likely to resume growing only from the first half of next fiscal. He said that certain high frequency indicators like e-way bills, electricity consumption were showing a recovery, the contraction of the first quarter of this fiscal is too large to be offset.
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