IMF makes sharp revision, says India's economy set to contract by 4.5%

Published: 25th June 2020 06:52 PM  |   Last Updated: 25th June 2020 06:57 PM  

India's economy is hurtling down with the IMF now projecting FY21 GDP growth to contract by 4.5 per cent. According to IMF's chief economist Gita Gopinath, India's sharp downward revision was due to the rising number of COVID-19 infections and the impact of the lockdown.

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