Business »  Topic »  Icra sharply revises forecast, expects Indian economy to shrink by 9.5 per cent in FY21

Icra sharply revises forecast, expects Indian economy to shrink by 9.5 per cent in FY21


Mumbai: Domestic rating agency Icra has revised its forecast for contraction in the country's GDP in the current fiscal to 9.5 per cent from 5 per cent earlier, as continued lockdowns in some states have affected the recovery seen in May and June. Most of the analysts have projected the country's GDP to contract in the range of 5 to 6.5 per cent in this fiscal.

"We have sharply revised our forecast for the contraction in Indian GDP in FY2021 (at constant 2011-12 prices), to 9.5 per cent from our earlier assessment of 5 per ...


Read the full text Times Now - ET Now