GDP numbers to be out today; Q1 growth likely to be worst after lockdown

New Delhi, Aug 31: The gross domestic product (GDP) numbers for the first quarter (April-June 2020) of current financial year (FY 2020-21) is expected to be released by the Union Ministry of Statistics and Programme Implementation (Mospi) later on Monday.

The National Statistical Office (NSO) will release data for April-June Monday which is expected to be the worst since India started reporting quarterly data in 1996.

The country is expected to register a sharp quarterly growth slump of 15-25 per cent.

The UK economy has seen the biggest slump in June quarter GDP among the top 20 global economies, with a 21.7 per cent annual contraction in growth - its deepest recession on record.

Many experts said the coronavirus pandemic could not have hit the country at a more vulnerable stage as India was already going through an economic slowdown.

Millions of Indians have lost their jobs and scores of small and medium-sized companies are struggling ever since the country went under a strict nationwide lockdown from March 25.