10 || 10 Myths On Indian Economy ||
S&P said risks to the growth outlook include a weaker recovery in informal sectors of the economy and deeper economic losses for micro and small enterprises
S&P Global Ratings on Monday slashed its FY21 growth forecast for India to (-) 9 %, from (-) 5 % estimated earlier, saying that rising COVID-19 cases would keep private spending and investment lower for longer.
One factor holding back private economic activity is the continued escalation of the COVID-19, S&P Global Ratings Asia-Pacific Economist Vishrut Rana said.
Rising COVID-19 cases in India will keep private spending and investment lower for longer. S&P Global Ratings now expects the countrys economy to contract by 9 % in the current fiscal year, which ends March 31, 2021, the US-based rating agency said in a statement.
For 2021-22 fiscal, it expects economic growth at 10 %.
https://www.thehindu.com/business/Economy/sp-projects-indian-economy-to-contract-9-in-fy21-says-covid-19-will-restrain-economic-activity/article32600377.ece
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10 || 10 Myths On Indian Economy || S&P said risks to the growth outlook include a weaker recovery in informal sectors of the economy and deeper economic losses for micro and small enterprises S&P Global Ratings on Monday slashed its FY21 growth forecast for India to (-) 9 %, from (-) 5 % estimated earlier, saying that rising COVID-19 cases would keep private spending and investment lower for longer. One factor holding back private economic activity is the continued escalation of the COVID-19, S&P Global Ratings Asia-Pacific Economist Vishrut Rana said. Rising COVID-19 cases in India will keep private spending and investment lower for longer. S&P Global Ratings now expects the countrys economy to contract by 9 % in the current fiscal year, which ends March 31, 2021, the US-based rating agency said in a statement. For 2021-22 fiscal, it expects economic growth at 10 %. https://www.thehindu.com/business/Economy/sp-projects-indian-economy-to-contract-9-in-fy21-says-covid-19-will-restrain-economic-activity/article32600377.ece