Category: Economy

World Bank: India’s GDP to contract by 9.6% in FY-21

World Bank
  • The World Bank projected India’s GDP to contract by 9.6% this FY-21 in its latest report titled ‘South Asia Economic Focus’.
  • The World Bank earlier in June had estimated the Indian economy to shrink by 3.2% in the current fiscal.

Fitch Solutions projects India’s GDP growth at -8.6% in FY21

GDP
  • Fitch Solutions has revised its forecast for Indian economic growth and now estimates that India’s GDP will contract by 8.6% in 2020-21 (FY21). Earlier this was estimated at -4.5%. It has also forecasted a 5% year-on-year growth in 2021 and 2022.

OECD projects India’s GDP at -10.2% in FY21

GDP
  • The Organisation for Economic Cooperation and Development (OECD) expects the Indian economy to contract by 10.2% in FY21 (2020-21) as compared to its previous estimate of 16.7% in June. For FY22 (2021-22), the Paris-based OECD projects India’s gross domestic product (GDP) to grow at 10.7%.