India's GDP expected to contract by 9.6% in fiscal year 2020, Says World Bank
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The World Bank on Thursday said that India's GDP is expected to contract by 9.6 per cent this fiscal which is reflective of the national lockdown and the income shock experienced by households and firms due to the COVID-19 pandemic, noting that the country's economic situation is “much worse” than ever seen before. Regional growth is projected to rebound to 4.5 per cent in 2021, it said.