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India facing its worst recession in current fiscal, says Crisil
NEW DELHI : India's fourth recession since independence, the first since liberalisation and perhaps the worst to date, is here, CRISIL said on Tuesday as it predicted the economy to shrink by 5 per cent in the current fiscal because of coronavirus lockdown. "The first quarter (April to June 2020) will suffer a staggering 25 per cent contraction," it said in its assessment of India's GDP. "About 10% of gross domestic product (GDP) in real terms could be permanently lost.