India’s rating agency, ICRA has projected the Indian economy to contract 7 percent in the current fiscal (FY21). For the next fiscal, i.e. FY22 (2021-22), ICRA expects a considerable rebound in India’s economic growth to 10.5 per cent due to higher central government spending, and a pick-up in consumption.
Important takeaways for all competitive exams:
- ICRA Headquarters: Gurgaon, Haryana.
- ICRA Non-Executive Chairman and Director: Arun Duggal.