Indian Economy to Contract @ 5% in FY21

Published on May 29, 2020
Current Context: S&P Global Ratings, which is an American credit rating agency has projected that Indian economy to contract @ 5% in FY21.
Indian Economy to Contract @ 5% in FY21
  • However, for fiscal year 2021-22, the growth is predicted at 8.5%
  • Previously, Fitch and Crisil has also predicted a negative growth of 5% in Indian Economy
  • The reduction in the growth rate has been made as the country is facing major lockdown situation due to the pandemic COVID-19
  • Static Part: 
    • HQ of S&P Global Ratings: New York, US

Question: 

Q: As per S&P Global Ratings, Indian economy to contract at ___% in FY21
a. 4%
b. 5%
c. 4.5%
d. 5.5%

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