Categories: Economy

S&P revises India’s GDP contraction forecast in FY21 to 7.7%

S&P Global Ratings (previously Standard & Poor’s) has raised India’s GDP growth projection for the FY21 (2020-21) to – 7.7 per cent from – 9 per cent estimated earlier. The lower contraction rate is based on rising demand and falling COVID infection rates. The US-based S&P rating agency has projected India’s growth to rebound to 10 per cent in the next fiscal, i.e. 2021-22 (FY22).

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.