India’s GDP to contract by 3% in FY21: BofA
- The US brokerage firm BofA Securities has projected the India’s GDP to contract by 3 percent in FY21 because of the coronavirus pandemic, assuming the economy is opened up fully from August 2020.
- The GDP is likely to grow at 9 percent in FY22, expects BofA, the multinational investment bank division under the auspices of Bank of America.
Points to Remember:
- BofA is a brokerage firm of which country?
- What will the GDP growth rate of India in FY21 as per the prediction of BofA?
- What will the GDP growth rate of India in FY22 as per the prediction of BofA?
Source: Economic Times