Rating company CRISIL has lowered the contraction price of India’s GDP and now expects the expansion price of the Indian financial system to contract 7.7% within the ongoing fiscal 2020-21, in comparison with the 9% forecast in September 2020, attributable to “faster-than-expected” restoration within the second quarter. For the fiscal 2021-22 (FY22), CRISIL expects the expansion to bounce again to 10%.
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