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.
Important takeaways for all competitive exams:
- CEO of Crisil: Ashu Suyash.
- Crisil Chief Economist: Dharmakirti Joshi.
- Headquarters of Crisil: Mumbai.