India's growth forecasts revised down after GDP shrinks by almost 24%

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03:34

India's economy has taken a massive hit from the coronavirus. Government data show GDP shrank by nearly 24 percent in the second quarter - reported to be the sharpest decline among major economies. As a result, ratings agency Fitch has revised its growth forecast from minus 5 to minus 10 percent. Goldman Sachs estimates India's GDP will shrink nearly 15 percent this fiscal year. CGTN talks to an expert on this situation.

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