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India’s GDP to contract 16.5% in Apr-June quarter: SBI report
Why is it in news?
- State Bank of India’s research report Ecowrap expects the country’s GDP to contract by 16.5 per cent during the first quarter of the current fiscal.
Details
- So far, around 1,000 listed entities have announced their results for the first quarter.
- The results indicate more than 25 per cent decline in topline and more than 55 per cent decline in bottomline.
- The decline in corporate GVA (gross value added) is 14.1 per cent.
- State-wise analysis indicates that top 10 states accounted for 73.8 per cent of total GDP loss.