S&P Global Ratings Projects India’s GDP at -9% in FY21

S&P Global Ratings has projected the GDP of India to contract by 9% in the fiscal year 2020-21 (FY21), as against its previous estimate of a 5% contraction, due to the impact of the COVID-19 pandemic. For the FY22 (2021-22), S&P expects GDP growth of 6% and for the FY23 (2022-23), GDP growth is projected at 6.2%.

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Important takeaways for all competitive exams:

• S&P Global Ratings Headquarters: New York, United States.
• President of S&P Global Ratings: John Berisford.

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