Slowdown, then pandemic

GDP data shows virus hit an already weakened economy

The National Statistical Office last Friday released its provisional estimates of gross domestic product (GDP) for the fiscal year 2019-20, as well as its quarterly estimates of GDP for the last quarter, January-March, 2019-20. The headline estimate, for the year 2019-20, is low by Indian standards but not as low as many feared: Growth in 2019-20 at constant prices would be, according to the statisticians, 4.2 per cent, as distinct from the over 6 per cent growth registered in 2018-19. The slowing in nominal GDP growth is even sharper.

The quarterly numbers were being carefully watched to see what the impact