HomeNewsEconomyICRA estimates the Indian GDP to contract 7% in FY21

ICRA estimates the Indian GDP to contract 7% in FY21

ICRA estimates the Indian GDP to contract 7% in FY21

ICRA has made a prediction that the GDP of India will contract 7 per cent in the current fiscal (FY21). ICRA is an Indian rating agency.

  • However, ICAR also adds that For the fiscal year FY22 (2021-22), India’s economy will increase to 10.5% due to higher central government spending and a pick-up in consumption.
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