India's economy seen slowing rapidly in March quarter, with worse to come

India's economy seen slowing rapidly in March quarter, with worse to come:

Gross domestic product data out later on Friday is expected to show India’s economy grew at its slowest pace in at least two years in the March quarter as the coronavirus pandemic weakened already declining consumer demand and private investment. The median forecast from a Reuters poll of economists put annual economic growth at 2.1% in the March quarter, lower than 4.7% in the December quarter. Prime Minister Narendra Modi has maintained the lockdown ordered on March 25 to curb the spread of COVID-19 in the world’s second most populous country, though many restrictions were eased for manufacturing, transport and other services from May 18.

from Yahoo News - Latest News & Headlines https://ift.tt/2X9Aihj

from Tumblr https://ift.tt/301TW0P