Crisil downgraded India’s Gross Domestic Forecast (GDP) for fiscal 2021 to 2%from 5.7% due to the coronavirus pandemic. Also, it is spreading rapidly in India causing adverse effects on domestic consumption, investment, and production and slowing the financial markets. As per Crisil, if the COVID 19 if not tackled by April-June 2020 globally then it may lead to a severe slowdown.
Crisil lowers FY21 growth to 5.2% from 5.7%
Current Affairs Calender