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%.

Boost your Banking Awareness Knowledge with Adda247 Live Batch: TARGET GA BATCH | Banking Awareness Batch for SBI, RRB, RBI and IBPS Exams

Find More News on Economy Here

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.

Recent Posts

Who is known as the Father of Mobile Phones?

Mobile Phones are a very important part of our daily life. From calling and messaging…

11 hours ago

Mongolia Gets New Prime Minister Amid Political Turmoil: Uchral Nyam-Osor Takes Charge

Mongolian parliament has appointed the Uchral Nyam-Osor as the country' new Prime Minister. With this…

13 hours ago

Ministry of Textiles Extends RoSCTL Scheme to Support Exporters Amid Global Uncertainty

To boost export potential of Indian textile industries Ministry of Textiles has extended the RoSCTL…

13 hours ago

E20 Petrol India 2026: Nationwide Rollout from April 1 Explained

From the April 1st fuel stations across the country are now supplying that petrol which…

14 hours ago

NCERT Gets ‘Deemed University’ Status: What It Means for India’s Education System

The Ministry of Education has granted the 'deemed to be university’ status to National Council…

14 hours ago

What Is Mission Mitra? ISRO’s New Experiment for Gaganyaan Explained

India's Gaganyaan Mission have begun the unique experiment which is called Mission Mitra in the…

14 hours ago