The predictions differ widely as BofA Securities expected the fall in GDP at 7.8 per cent and NCAER at 12.7 per cent. CRISIL says the decline in the economy would be less than 10 per cent against its earlier estimate of 12 per cent.
India's economy shrank at an unprecedented 23.9 per cent in the first quarter. As such, if projections come true, India would be in a technical recession. The numbers are scheduled to be released on Friday.