GDP contraction estimated at 9.6pc

The World Economic Situation and Prospects 2021 said that by mid-2020, unemployment rates had escalated to a record high 23 per cent.

New Delhi: India’s economy is estimated to have contracted by 9.6 per cent in 2020 due to the pandemic. The World Economic Situation and Prospects 2021 said that by mid-2020, unemployment rates had escalated to a record high 23 per cent. In 2021, the economy is projected to grow at 7.3 per cent, according to the United Nations Department of Economic and Social Affairs.

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