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India GDP: World Bank sees 9.6% contraction in FY21

Updated : October 08, 2020 14:55:13 IST

World Bank estimates that India’s growth will contract sharply by 9.6 percent in FY21 in the base case scenario and this is largely reflective of the economic impact of the lockdown and the income shock that has been experienced both by households and firms.

It says there are a lot of uncertainties still with regards to the outcome of the pandemic, but growth is expected to rebound to 5.4 percent levels in FY22.


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