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CLAIM ID

393b2d9a

India's GDP was seen contracting over 40% for the June quarter of 2020.

The note issued by the SBI bank said that Indian GDP may decline by 40% for June 2020.

The note issued by the SBI bank said that Indian GDP may decline by 40% for June 2020.SBI has outlined several important features of GDP data in its research note issued on 26 May 2020. It said that they believe India's GDP will reduce by 40 per cent in the first quarter for the financial year 2020 due to lockdown imposed by the government to combat COVID-19 pandemic. The bottom-up approach estimation to growth said that the top 10 states accounted for 75% of total GDP loss as the economic activity remains depressed.

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