Moody’s projects India’s GDP to contract 7% in FY21, expects 13.7% growth in FY22
- The US-based rating agency Moody’s has revised its growth projection for India, and now expects the economy to contract 7 percent in the fiscal 2020-21 (FY21). This is lower than its previous estimate of 10.6 percent contraction.
- For the next financial year, FY22, beginning April 1, Moody’s has projected the economy to grow to 13.7 percent, as compared to 10.8 percent estimated earlier.
Source: Business Standard