India GDP: Covid-19 toll on Indian economy deepens, jobs crisis to worsen: Poll | India Business News

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BENGALURU: India’s economic outlook has weakened again, albeit slightly, with worst-case scenario forecasts suggesting the toll from the coronavirus pandemic could be much deeper, stoking fears the job crisis may worsen over the coming year, a Reuters poll found.
Renewed restrictions to curb the current coronavirus wave have stalled economic activity, leaving many millions out of work and pushing economists – who have broadly been bullish – to downgrade their views for the second time since early April.
The May 20-27 poll showed the outlook for the current quarter was lowered to 21.6% annually, and to 9.8% on average for this fiscal year, down from 23.0% and 10.4% respectively a month ago. The economy was then forecast to grow 6.7% next fiscal year, compared to 6.5% predicted previously.
While the consensus pointed to healthy growth figures later this year, all 29 economists, in…

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