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Indian economy tumbles under Modi, suffers worst recession since 1947
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Tuesday Jun 01, 2021
A labourer takes a break from work as he sits on a footpath near a construction site after the Indian authorities announced a tentative easing of the lockdown in New Delhi on May 31, 2021, as Covid-19 coronavirus infections fall in major cities after weeks of restrictions. -AFP
MUMBAI: India’s economy contracted 7.3% in 2020-21, official data showed Monday, its worst recession since independence as coronavirus lockdowns put millions out of work.
Asia’s third-largest economy grew by 1.6% between January and March the fourth fiscal quarter after exiting its first technical recession since 1947 following two successive quarters of contraction.