The Indian economy will suffer its deepest contraction on record this fiscal year and recent government stimulus does not go far enough to significantly boost activity depressed by the coronavirus pandemic, according to economists polled by Reuters. With over 7.6 million coronavirus infections, India is the second worst hit country in the world after the United States and the spread shows no signs of abating.While the government has removed most restrictions imposed on businesses, the Reserve Bank of India issued gloomy economic forecasts earlier this month but kept interest rates unchanged citing rising inflation. That puts the onus on the government, which last week announced another round of fiscal stimulus to boost demand by $10 billion. But the Oct. 13-21 poll of 55 economists showed more pessimism about this fiscal year’s outlook than just two months ago. Nearly 90% of economists, 34 of 39, who responded to an additional question said the latest gover nment stimulus was not enough to boost the economy significantly.

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