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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.

India’s economy to shrink by 3.7% (means -3.7%) in the fiscal year 2020-21 stated OECD

June 12, 2020
GDP
  • The Organisation for Economic Co-operation and Development (OECD) declared India’s growth at -3.7% for the ongoing fiscal with a rider that growth could decline further to -7.3% in the event of a second COVID-19 outbreak, according to its Economic Outlook (EO) published on 10th June.

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.

India’s economy to shrink by 3.2% (means -3.2%) in the fiscal year 2020-21: World Bank

June 9, 2020
GDP
  • The World Bank assumes India’s economy to contract 3.2% in the current fiscal year (2020-21), a sharp downgrade from its April projection of 1.5%-2.8% growth, citing rigorous lockdown and spillovers from weaker global growth.

India’s GDP may decline by 1.5% in FY21, says RBI survey

June 7, 2020
GDP
  • A survey published by the Reserve Bank of India (RBI) has revealed that the Indian economy may decrease by 1.5 percent in FY21 though the next fiscal is expected to be much better.

Fitch and S&P forecast India’s GDP growth rate to contract 5% in FY21

May 28, 2020
GDP
  • Fitch and S&P Global Ratings has cut India’s GDP growth rate to 5% in the Fiscal Year 2021. The decline in the growth rates has been made due to a slump in the economic activities in the whole country between lockdown imposed to contain COVID-19 pandemic.