- Fitch Ratings has trimmed the Indian growth forecast for fiscal year (FY) 2020-2021 to 2% from 1% following the economic recession caused due to lockdown amid COVID-19 pandemic. This would be the slowest growth in India over the past 30 years.
- On global front, Fitch has predicted a contraction of 1.9% to 1.3% in GDP (Gross Domestic Product) growth for FY 20-21.
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