Off a cliff: India’s economy has more problems than the pandemic

According to the International Monetary Fund, India will be the large economy worst hit by the COVID-19 pandemic. The Fund now says that Indian GDP in the ongoing financial year, which began in March 2020, will contract by 4.5 per cent. Just a few weeks ago, it had been predicting 2 per cent growth for the year.

The IMF’s projection is by and large in line with estimates from investment banks…

To read more: https://www.smh.com.au/business/the-economy/off-a-cliff-india-s-economy-has-more-problems-than-the-pandemic-20200626-p556h4.html

SOURCE: THE SYDNEY MORNING HERALD