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GDP to contract by 5.3% in FY21, says India Ratings

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NEW DELHI : Credit rating agency India Ratings and Research expects gross domestic product (GDP) to contract by 5.3% on a year-on-year basis in FY21.This will be the lowest GDP growth in Indian history and the sixth instance of economic contraction, others being in FY58, FY66, FY67, FY73 and FY80; the previous low was negative 5.2% in FY80."The disorder caused by the Covid-19 pandemic unfolded with such a speed and scale that the disruption in production, breakdown of supply chains or trade channels and total wash out of activities in aviation, tourism, hotels and hospitality sectors will not allow the economic activity to return to normalcy throughout FY21," the agency said in a report."As a result, besides contracting for the whole year,.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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