Rating agency Crisil on Tuesday had said the Indian economy may shrink by 5% in fiscal 2021, adding this recession could be the country's fourth since Independence and perhaps the worst to date MUMBAI : The country's economy, which is likely to contract by 5% in the current fiscal, may expand by around 5% in the next financial year, former RBI governor Duvvuri Subbarao said.
Rating agency Crisil on Tuesday had said the Indian economy may shrink by 5% in fiscal 2021, adding this recession could be the country's fourth since Independence and perhaps the worst to date. "I do believe that getting up to 5% next year (FY22) is quite probable.