India research & ratings revised India's GDP growth forecast to 1.9%, the lowest in 29 years
R Sinduja
News Editor
Image Credit: shortpedia
India Research & Ratings revised its FY21 growth forecast down to 1.9%, which is lowest in 29 yrs due to COVID-19 pandemic. The rating is revised assuming that partial lockdown will extend till mid-May, but, if it extends beyond that, then GDP growth may dip more to minus 2.1%. The rating agency said the dip in tax/non tax revenue due to lockdown & the need to give stimulus will destabilise the fiscal math of union & state govt.
