CRISIL cuts India’s GDP growth forecast to 3.5% for FY2021

CRISIL has reduced India’s gross domestic product (GDP) growth forecast for fiscal 2021 to 3.5 per cent from 5.2 per cent expected earlier. The cut is due to the coronavirus pandemic. The pandemic in India and the consequent lockdown for 21 days pose a material risk to our India economic outlook. The slump in growth will be concentrated in the first half of the next fiscal, while the second half should see a mild recovery.

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