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Ind-Ra revises India's FY21 GDP contraction to 7.8% from 11.8% earlier


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. ....

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