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    India's GDP contracts by 23.9% in Q1, biggest crash in over 40 years

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    India's April-June quarter GDP contracted by a massive 23.9 per cent year-on-year (YoY), the first GDP contraction in more than 40 years. As per the National Statistical Office (NSO), gross value added (GVA) came in at -22.8 per cent. India's economy had expanded by 3.1 per cent in the March quarter and dragged FY20 GDP growth to 4.2 per cent, the weakest since the global financial crisis.

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