ICRA sharply revises GDP growth rate downward to 9.5% contraction for FY21

摘要

Rating agency ICRA sharplyrevised to -9.5%, its forecast forIndia's growth in the ongoingfiscal on account of thelocalised lockdownsannounced by various stategovernments and rising casesof Covid-19, in a report.Stating that the developmentsarrested the nascent recoverythat had set in during May-June2020, the latest estimate took theagency to the lower end of thespectrum of growth expectationsfor the economy