Oxford Economics revises downwards its India growth forecast

Forecasting firm Oxford Economics predicts that India’s post-COVID-19 scars could be among the worst in the world. It expects India’s growth equilibrium to worsen substantially over the medium term, with potential growth averaging just 4.5% over 2020-2025, from its pre-pandemic projection of 6.5%. The fiscal deficit is also expected to widen 7% of GDP in 2020-21.

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