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.

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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.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.