India Ratings slashes India’s FY21 GDP growth to 1.9%

In its latest report, credit rating agency India Ratings and Research (Ind-Ra) has slashed India’s Fiscal Year 2021 gross domestic product (GDP) growth to 1.9%. Earlier, the rating agency marked India’s Fiscal Year 2021 GDP growth at 3.6% in March 2020.

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The current stats are the lowest for India in the last 29 years. The GDP growth has been slashed by the credit rating agency citing the assumption of the partial lockdown to continue in India till mid-May 2020 due to the COVID-19 pandemic.

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