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Goldman Sachs downgrades India’s growth forecast as Covid cases spike

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NOIDA, INDIA – APRIL 11: A woman holds a pot at a food distribution by Noida Authority at Morna Village in Sector 35, on day eighteen of the 21 day lockdown to limit the coronavirus, on April 11, 2020 in Noida, India. (Photo by Virendra Singh Gosain/Hindustan Times via Getty Images)

Hindustan Times | Hindustan Times | Getty Images

A second wave of Covid-19 infections is expected to slow India’s economic recovery in the three months between April to June, according to Goldman Sachs.

The investment bank on Tuesday lowered India’s growth forecast for the quarter from 33.4% year-on-year previously, to 31.3%. It cited lower consumption and services activity likely due to increased social…



Source cnbc.com

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