New Delhi (Sputnik): The Indian economy had been slowing down since 2018 due to the combined impact of the US-China trade war as well as instability in domestic…
The Covid-19 pandemic has dented the already slowing Indian economy. Quarterly growth data released by the Indian government reveals that Gross Domestic Product (GDP) growth for the January-March quarter, or the last quarter of financial year 2019–20 (ending March 2020), has fallen to 3.1 percent, against 4.7 percent in the October-December 2019 quarter. Also, at 3.1 percent, the GDP growth is almost half the 5.8 percent seen in the comparable quarter of the previous year (Jan–March 2019).
The Covid-19 contagion started spreading India in the month of March. With the numbers growing by the day, Indian Prime Minister Narendra Modi announced a nationwide shutdown beginning 25 March.
