- Despite the Reserve Bank of India’s (RBI) massive actions to spur the economy, India’s gross domestic product (GDP) is likely to contract by 4.5 per cent in the April-June 2020 quarter and will rise by only 2 per cent in 2020-21 on the coronavirus impact, according to domestic rating agency Icra
- While announcing a number of measures in the policy review, the RBI refrained from giving its estimate on both growth and inflation, saying things are fluid and rapidly changing.
- The Indian economy was already supposed to clock a decadal low growth of 5 per cent in 2019-20, according to official estimates, and the coronavirus-related worries have only compounded the problems.
- Regardless of the measures announced now by the RBI, we are lowering our base case scenario for GDP growth to (-)4.5 per cent for Q1 FY2021 and to 2 per cent for FY21.
People also Read
Current Affairs Calender
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| 8 | 9 | 10 | 11 | 12 | 13 | 14 |
| 15 | 16 | 17 | 18 | 19 | 20 | 21 |
| 22 | 23 | 24 | 25 | 26 | 27 | 28 |
| 29 | 30 | |||||