Standard & Poor(S&P)Global Ratings has slashed down India’s growth forecast to 5% from 5.2% for the Financial Year(FY)21. Key points The growth rate has been slashed due to the deteriorating credit conditionsin the Asia-Pacific region as a result of Covid-19 outbreak. It also expects a sharp growth at 7.3% in the Indian economy 7.3% in FY22 & also has lowered India’s growth rate to 5.2% from 5.7% before lockdown. About S&P: Headquarters– New York, United States.
