Synopsis Moody's Investors Service Associate Managing Director (Sovereign Risk) Gene Fang said "our current expectation is that in the current fiscal ending March 2021, the economy would contract 7 per cent... We expect a rebound of 13.7 per cent growth in the next fiscal on normalisation of activity and base effects." ICRA Principal Economist Aditi Nayar said it expects 0.3 per cent growth in the third quarter (October-December) of current fiscal. Global rating agency Moody’s raised its growth expectations for the Indian economy to 13.7% for the coming fiscal against 10.8% it had projected in October, while moderating the expected contraction for FY21 to 7% from -10.6% earlier.