India’s economic growth is expected to contract 4.5% in the current fiscal year, the ministry of finance stated in its macroeconomic June 2020 report. The report cited a 6.4 percentage point plunge in GDP number in comparison with the April 2020 forecast. It noted shrinkage is in line with a downward revision of global growth. India’s real GDP growth rate was 4.2% in 2019-20.
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