India, Aug. 31 -- The National Statistical Office (NSO) will release the GDP numbers for the April-June quarter of the current financial year on Monday and there is a wide consensus among economists that the data will reflect an economic contraction.

To be sure, the estimates vary. SBI' Ecowrap research expects a 16.5% contraction in the first quarter. A research note by Pranjul Bhandari, chief economist at HSBC Securities and Capital Markets India Pvt. Ltd, expects a 17.5% contraction. Pranab Sen, India's former chief statistician, expected the economy to contract between 12% and 40% in an earlier comment to HT (see https://bit.ly/34PFsTV). And a Bloomberg poll of 15 economists, put the contraction at 19.2%.

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