Watch this edition of Big Story to find out why top rating agencies expect a steeper contraction in India's FY21 GDP and how soon they expect a rebound.
Global rating agencies and research companies have further slashed their India GDP growth estimates for FY21. While Fitch Ratings now expects the country’s GDP to contract 10.5 percent in FY21 versus its earlier estimate of 5 percent contraction, India Ratings expects an 11.8 percent contraction versus 5.3 percent it forecast earlier.
Goldman Sachs has forecast a sharper contraction at 14.8 percent in FY21, revised downwards from-11.8 percent it expected earlier. This is so far the deepest cut estimated for India's FY21 GDP.
But, why are rating agencies cutting growth estimates so sharply? And can India's economy rebound in FY22? Find out in this edition of Big StoryFirst Published on Sep 9, 2020 06:50 pm