Indian economy contracts 23.9 pc in April-June quarter

The Indian economy contracted by 23.9 per cent in the April-June quarter of this fiscal amid the COVID-19 crisis, official data showed on Monday. Most rating agencies had projected contraction in India's GDP for the first quarter of 2020-21. China's economy grew by 3.2 per cent in April-June after recording a decline of 6.8 per cent in January-March 2020..

The Indian economy contracted by 23.9 percent in the April-June quarter of this fiscal amid the COVID-19 crisis, official data showed on Monday. The gross domestic product (GDP) had expanded by 5.2 percent in the corresponding April-June period of 2019-20, according to data released by the National Statistical Office (NSO).

The government had imposed a nationwide lockdown on March 25 to curb the spread of coronavirus infections. The Centre began easing the lockdown for certain economic activities from April 20 onwards. Most rating agencies had projected contraction in India's GDP for the first quarter of 2020-21.

China's economy grew by 3.2 percent in April-June after recording a decline of 6.8 percent in January-March 2020.