As FY'20 GDP Growth Falls Below 5%, How Much Pain Lies Ahead for the Indian Economy?
- 3 years ago
Gross domestic product (GDP) growth for Q4 FY’20 was at 3.1%, according to government data released on Friday evening.
Consequently, GDP growth for the full FY’20 is estimated at 4.2%, a 11-year-low. In FY’19, GDP growth clocked in at 6.1%.
The economic growth figures are one of the first major macro signs of the pain inflicted by the COVID-19 pandemic. While a nationwide lockdown was only imposed on March 25, the government’s data shows that Indian consumers and businesses had started to turn wary from the beginning of the month.
Read More: https://thewire.in/economy/india-gdp-growth-in-q4-falls-covid-19
Consequently, GDP growth for the full FY’20 is estimated at 4.2%, a 11-year-low. In FY’19, GDP growth clocked in at 6.1%.
The economic growth figures are one of the first major macro signs of the pain inflicted by the COVID-19 pandemic. While a nationwide lockdown was only imposed on March 25, the government’s data shows that Indian consumers and businesses had started to turn wary from the beginning of the month.
Read More: https://thewire.in/economy/india-gdp-growth-in-q4-falls-covid-19