COVID-19 IMPACT: INDIAN GDP WILL SHRINK 5.3 PERCENT IN FY21 SAYS IND-RA

Highlights

• Ind-Ra predicts growth of 5 to 6 percent in FY22

• Earlier this week, Fitch and Moody’s predicted Indian economy to contract  5 percent and 3.1 percent in FY21

• Ind-Ra forecasted India’s fiscal deficit may expand more than double to 7.6 percent of GDP in FY21

After various global ratings like Goldman Sachs, Crisil and S&P and the country’s top bank ....