India's 2020-21 GDP to shrink 7.7%, biggest contraction since 1952
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India's economy is estimated to contract 7.7% in the fiscal year 2020-21, according to the first advance estimates released by the National Statistical Office (NSO), the Ministry of Statistics & Programme Implementation (MoSPI). The contraction in India's Gross Domestic Product (GDP) has mainly been attributed to the coronavirus pandemic which has kept the government from fully reopening the economy.