Categories: Economy

ICRA projects India’s GDP for FY21 to contact by 11%

Rating agency ICRA has revised its forecast for the contraction in India’s FY21 GDP to 11 per cent from its earlier assessment of 9.5 per cent. The reason behind contraction is an increase in a growing number of COVID-19 cases in India.

WARRIOR 3.0 | Banking Awareness Batch for SBI, RRB, RBI and IBPS Exams | Bilingual | Live Class

Besides, the agency revised its year-on-year (YoY) forecasts for Q3FY21 to (-) 5.4 per cent from (-) 2.3 per cent and Q4FY21 to (-)2.5 per cent from (+) 1.3 per cent.

Find More News on Economy

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.