'Indian economy worst hit, FY21 GDP to fall 14.8%'

The Indian economy is the worst-hit among major economies, American brokerage Goldman Sachs said on Tuesday sharply cutting its 2020-21 GDP (gross domestic product) forecast to a contraction of 14.8 per cent. It had earlier estimated that the economy of the country, which is now home to the second-largest number of Covid-19 infections, to contract by 11.8 per cent.