Categories: Economy

S&P forecasts Indian economy to contract 5% in FY21

S&P Global Ratings has slashed India’s GDP growth rate to 5% in the Fiscal Year 2021. The reduction in the growth rates has been made due to slump in the economic activities in the whole country amid lockdown imposed to contain Covid-19 pandemic.

Click Here To Get Test Series For SBI PO 2020

S&P Global Ratings stated that two months of lockdown have led to a sudden stop in the economy which has led to contaraction in the GDP growth rates of the present fiscal year.

Find More News on Economy Here

Mahesh Kumar

Working as an SEO Manager at Adda247, I bring over 10 years of experience in Search Engine Optimization (SEO) and digital marketing. I specialize in driving organic growth through data-driven strategies, including keyword research, on-page SEO, off-page optimization, and technical SEO. My area of expertise in the EdTech sector, specifically focusing on competitive exams such as Bank, SSC, Railway, UPSC, and various State Government job examinations.

Recent Posts

Current Affairs Capsule PDF (16 June 2026)

National News BRICS adopts Indore Declaration Under India’s chairship, the 16th BRICS Agriculture Ministers’ Meeting…

13 minutes ago

Smriti Mandhana Becomes Only Indian in TIME100 Most Influential People in Sports 2026

Smriti Mandhana has emerged as one of the biggest stars in the world cricket as…

2 hours ago

Who Is Mohammad Bagher Ghalibaf? Iran’s Influential Politician and Key Figure in US-Iran Peace Talks

Iranian Parliament Speaker Mohammad Bagher Ghalibaf has emerged as one of the most prominent figures…

2 hours ago

RBI Eases Investment Rules for NRIs and OCIs: Designated Repatriable Rupee Accounts Allowed

The Reserve Bank of India (RBI) has introduced the significant changes to the foreign investment…

3 hours ago

World’s Most Beautiful Airports 2026: India’s Navi Mumbai and Guwahati Airports Make the Prestigious List

The Navi Mumbai International Airport and the new terminal of Guwahati Airport have been included…

4 hours ago

PM Modi’s Historic Slovakia Visit: India and Slovakia Elevate Ties to Comprehensive Partnership

Honorable Prime Minister Narendra Modi paid the historic State Visit to Slovakia on 15th June…

4 hours ago