Tag: GDP

CARE ratings projects India’s GDP to contact between 8-8.2% in FY21

September 14, 2020

• The Indian rating agency, CARE Ratings has projected the GDP of India to contract in the range 8 to 8.2% for 2020-21 (FY21). This is more than its earlier projection of -6.4%.

Moody’s revises estimate of India’s Growth

September 12, 2020

• Global rating agency Moody’s has revised its forecast of India’s growth. It has estimated a double-digit contraction to be at 11.5% during the current fiscal year.

Goldman Sachs: India’s GDP for FY21 at -14.8%

September 9, 2020

• Goldman Sachs has projected India’s GDP for FY21 at -14.8%. For Calendar Year 2020 it has projected a contraction of 11.1%. For FY22, Goldman Sachs predicts India’s GDP to grow at 15.7% and for Calendar Year 2021 at 9.9%

India Ratings predicts India’s GDP for FY21 at -11.8%; FY22 at 9.9%

September 9, 2020

• India Ratings and Research has projected India’s FY21 GDP growth forecast at -11.8% as against its earlier prediction of -5.3%. For FY22, India Ratings and Research projects India’s GDP at 9.9%. The rating agency estimates the economic loss in FY21 to be Rs 18.44 lakh crore.

As per the SBI Ecowrap Report, India’s Real GDP likely to contract by 10.9% in FY21

September 2, 2020

• The State Bank of India’s (SBI) Ecowrap report estimated that the real Gross domestic Product(GDP) for FY21 is expected to shrink by around 10.9%(-10.9%), a decline of full year growth, against its earlier estimate of 6.8%.

NSO: India’s GDP has contracted by 23.9%

September 1, 2020

• According to NSO, India’s GDP has contracted by 23.9% in the first quarter (April-June 2020) for FY21.

Repo rate unchanged at 4.0 percent, GDP growth predicted to be negative in FY2

August 6, 2020

• The policy repo rate unchanged at 4.0 percent after the decision was taken by the six-member Monetary Policy Committee during its meeting on August 6, 2020.
• The MPC has consequently decided to keep the reverse repo rate under the liquidity adjustment facility (LAF)unchanged at 3.35 percent and the marginal standing facility (MSF) rate and the Bank Rate at 4.25 percent.

According to DBS, India’s GDP to contract 6% in FY21

July 25, 2020

• Singaporean brokerage firm DBS Bank Ltd has estimated that the Indian economy will contract by 6 percent in FY21 (2020-21).
• In its previous forecast, DBS had estimated – 4.8 percent growth for FY21.

India’s GDP to contract by 6.1% in FY21: Nomura

July 23, 2020

• As per the report of Nomura Holdings, India’s Gross domestic Product(GDP) is likely to contract by 6.1%(-6.1%) in FY21 as economic activity continues to be weak due to COVID-19 pandemic.

Citi predicts India’s FY21 GDP forecast at -6%

July 8, 2020

• Brokerage firm Citi has predicted India’s GDP for FY21 to decline by 6%. The prediction has been lessened by Citi, as compared to its earlier estimate of -3.5%.