Categories: Economy

Ind-Ra revises India’s GDP contraction to 7.8% for FY21

India Ratings and Research (Ind-Ra) has revised India’s GDP estimate for the current financial year 2020-21 (FY21) to -7.8 per cent from -11.8 per cent estimated earlier. This lower contraction rate is mainly due to the easing of COVID-19 curbs and better-than-expected recovery in the second quarter. Ind-Ra has also estimated the GDP to grow by 9.6% in 2021-22 (FY22).

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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.