Categories: Economy

CRISIL slows contraction rate for India at -7.7% in FY21

Rating agency CRISIL has lowered the contraction rate of India’s GDP and now expects the growth rate of the Indian economy to contract 7.7% in the ongoing fiscal 2020-21, compared to the 9% forecast in September 2020, due to “faster-than-expected” recovery in the second quarter. For the fiscal 2021-22 (FY22), CRISIL expects the growth to bounce back to 10%.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.