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India's economy contracts by 24%, worst in at least 24 years - Black News Channel

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By Sheikh Saaliq Associated Press NEW DELHI (AP) — India's economy contracted by 23.9% in the April-June quarter, its worst performance in at least 24 years, the government announced Monday, as the coronavirus pandemic ravaged what was once the world's fastest growing major economy. The contraction followed tepid 3.1% growth in the previous quarter, which was the worst performance in at least eight years, the National Statistical Office said. India has been publishing quarterly gross domestic product figures since 1996. The pandemic has caused economies around the world to contract, but India's growth had slowed even before the pandemic struck. […]

The post India's economy contracts by 24%, worst in at least 24 years appeared first on Black News Channel.

Source: Black News Channel - Black News Channel

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