Gross domestic product expanded by 3.1 per cent in the final quarter of the 2019-20 financial year, handily beating economists’ forecasts in a Bloomberg poll of 1.6 per cent growth. The government began allowing more activities earlier in May to support industry and lessen the financial pain for India’s poorest. Growth for the full financial year was just 4.2 per cent, the weakest since 2009. For the full 2020-21 financial year, Covid-19 is expected to whack India with ratings agency S&P forecasting a record 5 per cent decline in full-year growth. Goldman Sachs also expects a 5 per cent GDP fall.

Source: The Telegraph May 29, 2020 15:45 UTC