The gross domestic product (GDP) numbers for the January – March 2020 quarter (Q4FY20 / Q1CY20) has reinforced the belief that the Covid-19 hit Indian economy is indeed headed towards a recessionary phase. Economic growth in India as measured by the GDP grew at 3.1 per cent in the January – March 2020 quarter – the slowest growth in at least eight years, official data showed on Friday. The headline number for the full FY20 financial year came at an 11-year low of 4.2 per cent versus 6.1 per cent in FY19.
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First Published: Fri, May 29 2020. 20:06 IST