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04 July, 2020 15:06 IST
Fitch Ratings slashes India's growth to 0.8% in FY21
Source: IRIS | 23 Apr, 2020, 04.05PM
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  Fitch Ratings on Thursday slashed India's economic growth projections to 0.8 per cent in the current 2020-21 fiscal saying an unparalleled global recession was underway due to disruptions caused by the outbreak of coronavirus pandemic and resultant lockdowns.

In its Global Economic Outlook, Fitch Ratings said India's gross domestic product (GDP) growth will slip to 0.8 per cent for the year April 2020 to March 2021 (FY21) as compared to an estimated 4.9 per cent growth in the previous fiscal.

Growth is, however, expected to rebound to 6.7 per cent in 2021-22.




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