Indian economy to contract 6% this financial year - Barclays

According to investment bank Barclays, India's economy is expected to contract by 6% in the financial year April 2020 to March 2021. 

The economy contracted by 23.9% year-on-year in the April to June period, as the coronavirus-induced lockdown restrictions brought the activity to a standstill. 

The restrictions have been eased over the past few weeks, allowing for an economic recovery. However, Barclays believes the activity remained depressed in August due to local lockdowns.