CRISIL,an S&P global company, a domestic rating agency had lowered its projections for the Financial progress price of India to 1.8% from 3.5%, its earlier prediction for the year 2020-21. The parent company of CRISIL, Standard & Poor’s, predicts the world economy to contract 2.4% against its earlier estimated 0.4% growth.India and China are the only exceptions to the declining economic activities in 2020 among the other major economies. The agency projects the lockdown due to COVID-19 Pandemic to cause a total loss of Rs 10 trillion that is Rs 7000 per person.
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