Home Business Crisil now sees GDP shrinking 9% in FY21

Crisil now sees GDP shrinking 9% in FY21

18
0


Crisil Research on Friday said India’s Gross Domestic Product (GDP) would shrink 9% in FY21, wider than its May estimate of a 5% contraction. This rate of fall has not been seen since the 1950s, it added.

“With the pandemic’s peak not yet in sight and the government not providing adequate direct fiscal support, the downside risks to our earlier forecast have materialised,” Crisil Research said.

“If the pandemic were to peak out in September-October, GDP growth could move into mildly positive territory towards the end of this fiscal… But the risks to our outlook remain tilted to the downside till such time a vaccine is found and mass produced,” it said.

Show Less Plan

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Faster pages

Move smoothly between articles as our pages load instantly.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Personalised recommendations

A select list of articles that match your interests and tastes.

Briefing

We brief you on the latest and most important developments, three times a day.

*Our Digital Subscription plans do not currently include the e-paper ,crossword, iPhone, iPad mobile applications and print. Our plans enhance your reading experience.



Source link