Goa likely to see steepest contraction in economy in 2020-21, shows data

India Ratings and Research expects the gross state domestic product (GSDP) of all states in India to contract in FY21

Goa is likely to witness the steepest contraction in the economy in 2020-21, followed by Gujarat, according to projections by India Ratings and Research. The agency expects the gross state domestic product (GSDP) of all states in India to contract in FY21, which witnessed lockdown since March 25, eased in phases from the middle of April. The contraction will be in the range of 1.4-14.3%.