Goldman Sachs cut its 2020-21 GDP forecast for India to contraction of 14.8% from earlier 11.8%
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The Indian economy is the worst-hit among major economies, American brokerage Goldman Sachs said on Tuesday sharply cutting its 2020-21 GDP forecast to a contraction of 14.8%. It had earlier estimated that the economy of the country, to contract by 11.8 percent. The estimate comes days after official data said the economy contracted by 23.9 percent for the June 2020 quarter. The nearly two-month-long lockdowns collapsed economy.