Indian Economy to Contract by 5% for FY21

Published on May 20, 2020
Current Context: Goldman Sachs has predicted that Indian economy to contract by 5% for the financial year 2021. This has been marked as the worst performance by the country ever.
Indian Economy to Contract by 5% for FY21
  • It has also predicted that India’s GDP will contract by 45% in the second quarter from the prior three months compared to the previous forecast which was predicted to be 20%.
  • Static Part: 
    • HQ of Goldman Sachs: New York, US
    • Chairman and CEO of Goldman Sachs: David M. Solomon
  • Other estimated growth predictions for Indian economy for FY 2020-21 by the various organisation are:
    1. Berstein: -7%
    2. Nomura: -5%
    3. ICRA: -1-2%

Question: 

Q.1 As per Goldman Sachs, Indian economy to contract by ___% for the financial year 2021? 
a. 5%
b. 4%
c. 6%
d. 4.5%

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