Current Context: Fitch Ratings has projected that India’s economy to contract 10.5% in FY 2020-21 from the contraction of 5% which was estimated earlier.
- This projection by Fitch is with reference to the September update of Global Economic Outlook (GEO).
- As per the Fitch ratings, the Indian economy will grow by 11% in FY 2021-22 and by 6% in FY 2022-23.
- As per Fitch, in the Q1 of FY 2021, India’s GDP contracted by 23.9% while sharpest GDP contraction in the April-June 2020.
- The Indian arm of Fitch Ratings, has revised India’s GDP growth forecast to (-) 11.8% from (-) 5.3% earlier.
- Static Part:
- HQ of Fitch Ratings: New York, US
Question:
Q.1 Fitch Ratings has projected that India’s economy to contract ____% in FY 2020-21?
a. 9.5%
b. 10.5%
c. 11.5%
d. 8.5%
a. 9.5%
b. 10.5%
c. 11.5%
d. 8.5%
