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:
National News Coal Ministry Releases First Annual Scientific Mine Closure Report The Ministry of Coal…
For the many years, the Commonwealth Games platform has ushered in the era of several…
According to the current set of data, the Boomerang Nebula is the coldest location in…
Throughout the history, the Commonwealth Games have been synonymous with sporting excellence and cultural diversity…
The Indian Navy has kicked off Operation Southern Readiness 26-2, an exercise on multi-nation maritime…
Maharashtra is going to open the first AI-powered bird sanctuary of India at Thane Creek…