India’s first-quarter GDP growth runs slowest since 2012
India’s economy seemed to have expanded at its slowest pace in at least eight years in the first quarter. Weak growth was partly from the government’s efforts aimed at containing the further spread of the novel coronavirus.
Asia’s third-biggest economy ran slower than its recorded pacing in 2019 as the implementation of a countrywide lockdown curbed economic growth completely. Fifty-two economists rendered a reading of 2.1% growth in the first quarter. It placed under the 4.7% record monitored three months earlier as it came to be the weakest figure since 2012.
Gross domestic product outlook is due on May 29, with speculated growth ranging between 4.5% and -1.5%. The dire prediction underscored widespread uncertainty brought by the deadly respiratory disease as it continues to bring more economic disruptions.