Ind-Ra revises FY21 GDP growth expectation to minus 7.8 pc ANI | Updated: Dec 24, 2020 13:27 IST
Mumbai (Maharashtra) [India], December 24 (ANI): India Ratings and Research (Ind-Ra) on Thursday revised its expectation for India s FY21 gross domestic product (GDP) growth to negative 7.8 per cent from negative 11.8 per cent due to easing of Covid-19 headwinds and better-than-expected 2Q FY21 GDP numbers.
However, the question remains: how sustainable is the recovery witnessed in the second quarter? Ind-Ra said a significant part of the impetus came from the festival and pent-up demand. Although the headwinds emanating from Covid-19 related challenges are unlikely to go away till mass vaccination becomes a reality, perhaps the economic agents and economic activities not only have learnt to live with it but also are adjusting swiftly to the post-Covid-19 world.