Last Updated : Apr 15, 2020 08:09 AM IST | Source: Moneycontrol.com
Coronavirus pandemic | India FY21 GDP growth: Here is what economists are predicting
The GDP of an economy is the sum of the economic activities happening on the ground. A decline in the GDP figure points to corresponding fall in output across sectors. A likely contraction in GDP will have catastrophic impact on production, employment and tax collection.
A host of international agencies have cut India's economic growth estimate for FY21 on concerns about the fallout of novel coronavirus, or COVID-19, pandemic. The World Bank expects the economy to grow at 1.5-2.8 percent in FY21, the slowest growth rate recorded since the economic reforms of 1991. (Image: PTI)
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Asian Development Bank (ADB) sees India's economic growth slipping to 4 percent in FY21 from 6.5 earlier, citing a weak global environment and continued efforts to contain the COVID-19 outbreak within the country. (Image: Wikimedia Commons)
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S&P Global Ratings has further slashed its FY21 GDP growth forecast to 3.5 percent from a previous downgrade of 5.2 percent. (Image: Reuters)
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Fitch Ratings puts its estimate for India growth at 2 percent in FY21 from 5.1 percent estimated just 18 days ago. (Image: PTI)
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India Ratings & Research has revised its FY21 forecast to 3.6 per cent from 5.5 percent earlier. (Image: PTI)
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Rating agency ICRA said India’s GDP could contract to a negative one percent in FY21 on account of the extension of the nationwide lockdown to May 3. (Image: Wikipedia)
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Moody's Investors Service has slashed its India's 2020 GDP growth estimate to 2.5 percent from 5.3 percent earlier. (Image: Moneycontrol)
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Acuite Ratings expects overall GDP growth for FY21 to be in the band of 2-3 percent which takes into account a significant economic revival in the second half of the financial year. (Image: acuite.in)
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Standard Chartered Bank said it expects growth to slip to a three-decade low of 2.7 percent in FY21. (Image: Moneycontrol)
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ING Group has cut its FY21 growth forecast to 0.5 percent from 4.8 percent. (Image: Moneycontrol)
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The extension of the nationwide lockdown till May 3 will inflict an economic loss of $234.4 billion, and result in stagnant GDP for 2020, British brokerage Barclays said in a note. It earlier said the three-week lockdown would likely have an economic cost of $120 billion. The brokerage pegged economic growth at zero for 2020 and 0.8 percent in FY21 from 2.5 percent and 3.5 percent earlier, respectively. (Image: Moneycontrol)
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Deutsche Bank said India's GDP growth would collapse in April-June and might be a negative print of 5 percent year-on-year (YoY), or even more. There was a possibility that the July-September real GDP, too, would be negative. (Image: Reuters)
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Centrum Institutional Research has cut its FY21 GDP estimates to 3.1 percent from 5.2 percent and believe that, too, will be back-ended. (Image: centrum.co.in)
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The International Monetary Fund (IMF) projected a GDP growth of 1.9 percent for India in 2020. With this subdued forecast, India is likely to record its worst growth performance since the 1991 liberalisation. But, the IMF has placed India as the fastest-growing emerging economies of the world. (Image: Moneycontrol)
