NEW DELHI : Having witnessed a contraction in the first half of the current financial year, India's GDP growth is likely to turn positive at 0.1 per cent in the October-December quarter, economic think-tank NCAER said.The NCAER, in its mid-year review of the Indian economy, also forecast 2 per cent growth in the fourth quarter (January-March 2021).
The overall contraction in the current fiscal is likely to be contained at 7.3 per cent.India's economy contracted by 23.9 per cent in the first quarter of the current fiscal on the account of the impact of the coronavirus pandemic.
The contraction narrowed to 7.5 per cent in the second quarter."The sharp recovery of GDP in Q2, the bowstring effect, was a welcome surprise.