Economy to rebound in second half of 2020 as Covid-19 recedes: IHS Markit

As lockdown conditions have been progressively eased, early signs of recovery were evident in the most recent economic data

The Indian economy is likely to rebound in the second half of 2020 as the impact of the Covid-19 pandemic recedes, and is projected to grow by 6.7 per cent in the next financial year, IHS Markit said on Thursday.

The pandemic resulted in severe disruptions in industrial production and consumption spending in India during April and May.

"The severe negative impact is expected to result in a significant contraction in GDP in the April-June quarter of 2020, resulting in a recession in the 2020-21 financial year with GDP expected to contract by 6.3 per cent year-on-year," it said in