Rating agency S&P projects Indian economy to contract 9 per cent in fiscal 2021. S&P Global Ratings on Monday revised its forecast for the decline in India’s economy to (-)9 per cent in the current fiscal, from previously predicted (-)5 per cent.
S&P Global Ratings now expects the country’s economy to contract by 9 per cent in the current fiscal year, which ends March 31, 2021.
Other Rating Agencies Prediction:
Last week, two other global rating agencies Moody’s and Fitch had projected Indian economy to contract 11.5 per cent and 10.5 per cent respectively in the current fiscal. However, Goldman Sachs has estimated the contraction at 14.8 per cent.
S&P’s latest revision comes three months after it made its projection on India’s real GDP for fiscal 2021.
- Headquarters: New York, United States
- Parent organization: S&P Global
1) What is the India’s GDP rate projection for FY22 as per Moody’s? =10.6%
2) India’s GDP rate projection for FY22 as per India Ratings and Research? = -+9.9%
3) Recently, Fitch revised India’s GDP forecast from -5% to which percent? = -10.5%
4) As per World Bank, India’s economy to contract by what per cent in fiscal year 2020-21? = 3.2 percent
5) Ratings agency Moody’s Investors Service downgraded India’s sovereign ratings from Baa2 to which grade? = Baa3
6) As per Goldman Sachs, India’s economy to contract by what per cent in FY21? 14.8%
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