Economics

India May See First Contraction in 40 Years on Lockdown Extension

Women maintain social distancing outside a bank as they wait to collect their pension during a government-imposed nationwide lockdown in Bhopal on April 15. — Women maintain social distancing outside a bank as they wait to collect their pension during a government-imposed nationwide lockdown in Bhopal on April 15.
Photographer: Gagan Nayar/AFP via Getty Images

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By Vrishti Beniwal

April 15, 2020 at 9:29 AM UTC

Updated on

April 15, 2020 at 2:01 PM UTC

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India’s economy may be heading for its first full-year contraction in more than four decades after Prime Minister Narendra Modi extended the world’s biggest lockdown to contain the coronavirus outbreak.