India's economy shrinks record 23.9pc in April-June quarter

NEW DELHI: Indian economy contracted at its steepest pace on record of 23.9pc year-on-year in the June quarter, official data showed on Friday, as the pandemic lockdown shattered consumer and business spending.

The read-out for the June quarter was worse than the 18.3pc contraction forecast of analysts in a Reuters poll, and lower than a 3.1pc growth rate for the previous quarter.