Fitch Ratings lowers India’s GDP contraction at 9.4% for FY21

Fitch Ratings has revised the GDP development price for India in its Global Economic Outlook, and now expects the financial system to contract 9.4 per cent within the present monetary 12 months 2020-21, as in comparison with (-)10.5 per cent forecast earlier. Fitch has additionally projected the FY22 GDP development at 11 per cent and 6.3 per cent development in FY23.

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