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).

Boost your Banking Awareness Knowledge with Adda247 Live Batch: TARGET GA BATCH | Banking Awareness Batch for SBI, RRB, RBI and IBPS Exams

Find More News on Economy Here

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.

Recent Posts

Who is known as the Inventor of Radio?

Radio is one of the most important inventions in the history of communication. It allows…

11 mins ago

India’s Forex Reserves Rise to $703.3 Billion, Showing Signs of Economic Stability

India’s foreign exchange reserves have indicates the steady rising as it touched the $703.3 billion…

32 mins ago

India Launches Nationwide Toll-Free Helpline for Census 2027 Assistance

India has taken important step towards the simplifying the Census 2027 process by launching the…

1 hour ago

World Malaria Day 2026: Date, Theme and Global Efforts Explained

World Malaria Day 2026 is to be observed on the April 25 every year to…

2 hours ago

RBI Cancels Paytm Payments Bank Licence, Cites Regulatory Non-Compliance

The Reserve Bank of India (RBI) has cancelled the banking licence of the Paytm Payments…

15 hours ago

Do You Know Which was the First Website on the Internet?

Today, the internet is an important part of our daily life. We use it to…

17 hours ago