ICRA Predicts Indian Economy to likely contract by 5% in FY21

ICRA Predicts Indian Economy to likely contract by 5% in FY21

• The Ratings agency ICRA has predicted India’s GDP growth for FY 2020-21 at -5.0%. Earlier it has predicted the same at around -1% to -2 %.
• It means the GDP of India will contract by 5.0% in FY21.

Points to Remember:

1. What is India’s GDP growth rate prediction for FY21 as per ICRA? -5.0%