Economy Contracts By Record 7.3% For Year, Q4 Showed Revival Economy Contracts By Record 7.3% For Year, Q4 Showed Revival Gross domestic product grew 1.6 per cent in January-March compared with the same period a year earlier, data from the statistics ministry showed on Monday.
People walk at a crowded market amid the spread of coronavirus in Delhi. (FILE)
New Delhi:
India s annual economic growth rate picked up in January-March compared with the previous three months, but economists are increasingly pessimistic about this quarter after a huge second wave of COVID-19 infections hit the country last month.
A slow vaccination drive and local restrictions after a massive second wave of infections and deaths across the country have hit economic activities like retail, transport and construction while putting millions out of work.
Read more about India s economy likely accelerated in Jan-Mar, before Covid-19 wave: Poll on Business Standard. But the second wave of infections and deaths across the world s second-hardest hit country has caused forecasters to trim their projections for the coming months
India's economic growth likely picked up in the January-March quarter from the previous three months, but economists have grown more pessimistic about this quarter after a harsh second wave of COVID-19 hit the country last month.
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India News: As the country is battling the second wave of Covid-19, Congress leader Rahul Gandhi on Monday slammed the BJP-led NDA government at the Centre for th