The economic shock is likely to put pressure on Prime Minister Narendra Modi to unveil new measures but the government has limited fiscal policy space to respond to the crisis.
BENGALURU: India's services activity suffered a shock collapse in April as the coronavirus lockdown crippled global demand, causing a historic spike in layoffs and reinforcing fears of a deep recession in Asia's third-largest economy, a private survey showed.
The grim result for the industry, the engine of economic growth and jobs, underlined the pandemic's sweeping impact across India as authorities extended a nationwide lockdown, in effect since March 25, until May 17.
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