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Moody s forecasts 7% GDP contraction for India in FY21; revises estimate to 13.7% growth in FY22 In its Global Macro Outlook 2021-22 report, Moody s says India s economy has rebounded quickly from one of the world s longest and most stringent lockdowns, which also came with steepest fall in GDP in Q2 BusinessToday.In | February 25, 2021 | Updated 16:23 IST The government will release the GDP numbers for the October-December quarter of the current fiscal on Friday Global rating agency Moody s has said India s economy will shrink by 7 per cent in FY21 and revised India s growth estimate for the next financial year 2021-22 to 13.7 per cent from 10.08 per cent earlier. The agency in its earlier estimates had predicted India s GDP to shrink 10.6 per cent in the current financial year. ....
Ind-Ra revises India s FY21 GDP contraction to 7.8% from 11.8% earlier Ind-Ra says COVID-induced challenges will unlikely go away till mass vaccination becomes a reality but economic agents and activities seem to have adjusted to the post-COVID-19 world BusinessToday.In | December 24, 2020 | Updated 15:16 IST In Q3, Ind-Ra expects growth to improve significantly to -0.8 per cent India Ratings and Research (Ind-Ra) has revised India s GDP estimate for the current financial year to -7.8 per cent from -11.8 per cent earlier, primarily due to the easing of COVID-19 curbs and better-than-expected growth numbers in the second quarter. However, it remains to be seen how sustainable the Q2 recovery is, considering most of the impetus was due to festival and pent-up demand, says the ratings agency. ....