India's GDP growth has been on a slide since the last 8 quarters

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The April-June quarter gross domestic product (GDP) data will release on August 31, 2020. The numbers are keenly awaited as they will reflect the economic impact of the over two-month lockdown in the country. India went under complete lockdown on March 25 to combat the spread of COVID-19. The economy started "unlocking" only from June, albeit in a phased manner where many states still assumed lockdown.

Though businesses and economic activities have started picking up since then, India's economy may still not be out of the woods just yet. According to SBI's Ecowrap research, India's GDP is expected to contract by 16.5 percent in the first quarter of FY21

Also Read: Explained l Why the latest GDP data on August 31 will be unlike previous growth figures

In the January-March quarter of FY20, India’s economy expanded by 3.1 percent. The GDP growth has been on a fall since the last eight quarters.