Nomura estimates India’s GDP to contract by 6.1% in FY21
- The Indian economy is expected to contract by 6.1 percent in the current fiscal (2020-21), as per the Japanese financial services firm Nomura.
- The contraction in the GDP is due to the Covid-19 pandemic, which has impacted both supply and demand forces in the economy since March 2020.
Points to Remember:
- What will be the GDP growth rate of India in FY21 as per Nomura? -6.1%
Source: Business Standard