India’s GDP contracts by 23.9% in Q1
The largest quarterly slump faced by the Indian economy so far
The sharp contraction is due to the closure of business during the nationwide lockdown
Statistics were released by the Ministry of Statistics & Programme Implementation (MoSPI)
This might lead to an estimated 7% contraction for the full financial year
GDP figure stood at 3.1% in the Q4 period (Jan-March) of the FY19-20
