Fitch Ratings Projects India’s GDP at -5% in FY21
- American credit rating agency Fitch ratings has drastically projects India’s economic growth forecast to contract 5 percent in the current fiscal year 2020-21 due to a prolonged lockdown.
- This means India’s GDP is estimated to be -5% in FY21.
- Earlier it had predicted the same at 0.8%
Source: Business Standard
Points to Remember:
- What is the estimated GDP growth rate for India in FY21 as per Fitch Ratings?