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GDP numbers reinforce belief that economy is headed for recession: Analysts

While estimates varied across brokerages and economists, the common thread that ran through the estimates was the fact that the economy is headed towards a recessionary phase

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GDP

Puneet Wadhwa  |  New Delhi 



economic slowdown
With the government set to announce the roadmap over the weekend for on how it plans to deal with the lockdown, any extension, analysts say, could further dent the economy | Illustration: Ajay Mohanty

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 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

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