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Tag: GDP

India’s GDP may shrink by 6.4% in FY21: Care Ratings

July 2, 2020
GDP
  • Care Ratings on 2nd July updated India’s GDP growth prediction for the current financial year to (-) 6.4 percent as economic activity continues to be under restraint because of the lockdown on account of the COVID-19 pandemic. The rating agency, in May, had predicted a decline in GDP growth of 1.5-1.6 percent in FY21.

Fitch slashes India growth projection to 8% for FY22

July 1, 2020
GDP

  • Fitch Ratings on 29th June slashed India’s growth forecast for 2021-22 fiscal to 8 percent from 9.5 percent predicted last month. It, however, preserved its prediction of Indian economy contracting by (-5) percent in the current fiscal (FY2020-21).

NCAER forecasts India’s GDP growth at 1.3% in FY21

June 28, 2020
GDP
  • National Council of Applied Economic Research (NCAER) announced the Indian economy could be developing at 1.3% in FY21 as a base case scenario. This prediction is based on the incorporation of the monetary and fiscal stimulus measures undertaken by the Reserve Bank of India (RBI) and the central government.

IMF lowers India GDP forecast for FY21, decreases by 4.5%

June 24, 2020
IMF
  • The International Monetary Fund (IMF) sharply cut India’s growth outlook for the present fiscal year (2020-21) to a minus (-) 4.5 percent from 1.9 expansion expected in April owing to an extended COVID-19 lockdown and hindered economic revival.

India’s GDP to sink 3.1% in 2020: Moody’s

June 24, 2020
GDP
  • Moody’s Investor Service further lowered its growth forecast for India to -3.1% this calendar year correlated to 0.2% in April.
  • The June 2020 update of its Global Macro Outlook, published on 22nd June, expected a marginally greater rebound at 6.9% in 2021, as opposed to 6.2% in the April update.

Indian economy to rise at 9.5% in fiscal 2021-22: Fitch Ratings

June 11, 2020
GDP
  • Fitch Ratings has oozed confidence that the Indian economy will spring back from the prevailing contraction and slowdown mainly on the back of the COVID-19 pandemic and projected India’s GDP to rise at a healthy rate in the next fiscal year.
  • The credit rating agency has predicted India’s GDP to increase at 9.5 percent in FY 2021-22 after a contraction of 5% (means -5%) fiscal year 2020-21.