Economy to contract by 10% this year

The shocking GDP data for Q2 and signs of a weak recovery have led us to revise down our expectations for growth in 2020. We are now forecasting GDP growth of -10% (previously -5.5%). Further ahead, India’s real GDP is on course to be greater than 10% below its pre-virus trend at the end of our forecast period in 2022. That is one of the largest gaps we are forecasting in the emerging world.

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