Economics
India’s GDP Set to Drop 7.7%, Biggest Contraction Since 1952
- GDP decline seen steeper than RBI and economists’ estimates
- Statistics body says estimates prone to sharp revisions
People wait in line to register at a Covid-19 reverse transcription polymerase chain reaction (RT-PCR) test site in New Delhi.
Photographer: T. Narayan/BloombergThis article is for subscribers only.
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India’s economy is set for its biggest annual contraction in records going back to 1952 as the rapid spread of coronavirus cases and measures to contain them hurt businesses and households.