IMF has said that India's gross domestic product (GDP) is expected to contract by 10.3% due to the impact of the national lockdown and the income shock experienced by households and firms due to the COVID-19 pandemic.

IMF's biannual world economic outlook: India's GDP to contract

The World Bank has said India’s GDP is expected to further contract by 9.6% this fiscal as a reflection of the economic slump the country has suffered due to the national lockdown induced by the coronavirus pandemic.

World Bank: India's GDP to contract in FY21

India's economy grew 3.1 per cent in the January-March quarter of 2019-20 as against 5.7 per cent in the corresponding quarter of 2018-19, according to data released by the National Statistical Office (NSO).

India's GDP growth slips to 3.1% in January-March quarter

The world is certainly suffering from the devastating recession and this is because of the coronavirus fears. The Indian economy is headed towards its worst recession.

Coronavirus Pandemic: India's GDP to contract by 5% in FY21