Economic outlook released by the Centre for Monitoring Indian Economy said that India Inc was facing the biggest contraction in the last 20 years.
Economic outlook released by the Centre for Monitoring Indian Economy said that India Inc was facing the biggest contraction in the last 20 years.The agency in its latest report on 17 March 2020 said that India Inc is currently facing a deep contraction due to secular decline in all sectors. It said that the contraction in the financial year 2019-20 (FY20) was 12.9 percent, which was worse than the six percent contraction recorded during 2008-09 following the global liquidity crisis. The analysis pointed out that the contraction in terms of real value was the worst since 1999. It also warned that it may get much worse if the Coronavirus shock is not contained.
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