S&P Predicts India’s GDP at -5% for FY21

S&P Predicts India’s GDP at -5% for FY21

• Leading rating agency S&P Global Ratings has forecast the Indian economy to contract 5 percent in the current fiscal 2020-21.
• This means the GDP growth of India for FY21 is estimated at -5%
• The downward revision is due to the lockdown imposed to contain COVID-19 pandemic, which has curtailed economic activity severely.

Points to Remember:

1. What is the estimated GDP grrowth of India for FY21 as per S&P Global Ratings?