Tag Archives: India suffers worst recession since 1947

MUMBAI: India’s economy contracted 7.3 per cent in 2020-21, official data showed on Monday, its worst recession since independence as coronavirus lockdowns put millions out of work. Asia’s third-largest economy grew by 1.6pc between January and March — the fourth fiscal quarter — after exiting its first “technical recession” since 1947 following two successive quarters of contraction. About 230 million …

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