Indian economy shrinks 7.7% in fiscal 2020-21 amid pandemic

NEW DELHI: India’s economy contracted by 7.7 percent  in the 2020-21 financial year, battered by the coronavirus pandemic, according to a report released Friday.
The government survey cited by the Press Trust of India news agency estimates the economy will bounce back, growing 11 percent  in the fiscal year that begins in April.
Finance Minister Nirmala Sitharaman presented the report to Parliament on Friday. She will present the national budget for 2021-22 on Monday.