India's economy grew at its slowest pace in at least two decades last quarter, government data showed, with warnings of far worse to come as it grapples with the fallout of the world's largest coronavirus lockdown, AFP reported.
Asia's third largest economy expanded by just 3.1 per cent in the January-March period, which coincided with the first week of a months-long shutdown.
The figures beat even gloomier forecasts, with Bloomberg News predicting growth would slow to just 1.6pc, but analysts are bracing for a severe contraction in the current quarter after manufacturing, services and consumer spending came to a grinding halt.
Annual growth was 4.2pc, its slowest pace since the 2008 global financial crisis, though the finance ministry said the estimates were likely to be revised due to a lack of available data.
