The Worst Recession in 41 Years?
Goldman Sachs estimates that India's GDP will contract by 45% in the April to June quarter
Goldman Sachs estimates that India's GDP will contract by 45% in the April to June quarter. It may also decrease by 5% in the year ending March 2021. This has never happened since 1979. Experts say that the main reason for this crisis is the lack of spending by the government. Other countries have allocated from anywhere between 3-4% of their GDP to 11% in terms of actual spending. India has earmarked only 1.3%.
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