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

Marathi Thriller Gondhal Is India’s Official Entry for Oscars 2027

Gondhal, a arathi thriller film directed by Santosh Davakhar, has been chosen as the official…

9 hours ago

NHAI OneTag FASTag Portability: Change Banks Without Replacing Your Tag

The process of linking a different bank to a FASTag does not need one to…

10 hours ago

Who Is Zhang Yiming? ByteDance Founder Becomes Asia’s Richest Person

Zhang Yiming, the founder of ByteDance, is currently the richest person in Asia as his…

10 hours ago

Asian Games 2026: Which Sports Bring India the Most Medals?

The participation of India in the Asian Games has been dominated by some sports that…

11 hours ago

Child Passport Validity Rules Changed by MEA in 2026

A modification in the validity of passports has been brought in by the Ministry of…

12 hours ago

Manu Bhaker, Tajinderpal Toor Named India’s Asian Games Flag-Bearers

India has identified shooters Manu Bhaker and shot putter Tajinderpal Singh Toor as their flag…

13 hours ago