NEW DELHI (Reuters) – The Indian government said on Thursday it expects the economy to contract 7.7% in the fiscal year ending in March, compared to 4.2% growth a year earlier.
Many private economists have upwardly revised their forecasts on India to a contraction in the range of 7-9.5% for the 2020/21 fiscal year, after the central bank revised its estimate to 7.5%.
(Reporting by Manoj Kumar and Aftab Ahmed; editing by John Stonestreet)
