![CRISIL lowers contraction rate for India at -7.7% in FY21 GDP](https://focusmerit.com/wp-content/uploads/2020/03/GDP-1-300x180.jpg)
- Rating agency CRISIL has lessened the contraction rate of India’s GDP and now expects the growth rate of the Indian economy to decline 7.7% in the ongoing fiscal 2020-21, compared to the 9% forecast in September 2020, due to “faster-than-expected” recovery in the second quarter.