Q2 GDP data to be released today: India may still enter technical recession

India's economy shrank at an unprecedented 23.9 per cent in the first quarter.
Every rating agency, barring Barclays, has projected either less contraction in India's economy in the second quarter or the same as it was earlier.

 

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.



Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel