Indian economy, hit by COVID-19, shrinks by 7.3% in 2020-21

0
8

NEW DELHI (AP) — India says its economy, pummeled by the coronavirus pandemic, contracted by 7.3% in the 2020-21 financial year, just before the country was hit by another catastrophic surge in infections. Figures released by the government on Monday also showed 1.6% growth in the most recent January-March quarter. But experts warn that any signs of recovery came before cases surged to record levels in May after temporarily receding. Many states have since imposed widespread restrictions and lockdowns, slowing business activity again. New infections and deaths recently have begun to decline, but much of the country is still under some form of a shutdown, with many industries and businesses unable to resume work. 

The post Indian economy, hit by COVID-19, shrinks by 7.3% in 2020-21 appeared first on WEEK.

LEAVE A REPLY

Please enter your comment!
Please enter your name here