The Indian arm of Fitch Ratings, India Ratings and Research (Ind-Ra) has projected India’s FY21 GDP growth forecast at -11.8% as against its earlier prediction of -5.3%. The rating agency estimates the economic loss in FY21 to be Rs 18.44 lakh crore. The rating agency also expects India’s GDP to rebound and grow at 9.9% year-on-year in FY22 primarily due to the weak base of FY21.
The Indian economy contracted by a record 23.9% in 1st (April-June) quarter of FY21, which is much higher than Ind-Ra’s forecast of 17.0% due to the impact of the COVID-19 pandemic (lockdown).
Important takeaways for all competitive exams:
As the IPL now at the climax part, final 4 teams are now officially confirmed…
Football Icon Lionel Messi has officially enters to the billionaire club and become the only…
Rajya Sabha MP Raghav Chadha has been appointed as the new Chairman of the Rajya…
Major Abhilasha Barak who was serving with the United Nations peacekeeping mission in Lebanon has…
Respectable Defense minister Rajnath Singh has launched the first indigenous 300 km Universal Rocket Launching…
World Football Day observed worldwide on 25th May, and this game connects the billions of…