Top headlines: Economy may contract by 16.5%, JEE, NEET exams in Sept

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Indian economy likely to contract by 16.5% in Q1FY21: SBI report

The Indian economy may report a contraction of 16.5 per cent in April-June quarter of FY21, as against previously expected contraction of 20 per cent, as degrowth in corporate GVA, courtesy better-than-expected results of some financial and non-financial companies, has been significantly better than revenue degrowth in Q1FY21, said SBI economists. Data released by the government last week showed that India’s factory output contracted sharply for the fourth straight month in June, though at a slower pace than in May, signaling gradual process of normalisation of manufacturing activity.  Read more