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Indian economy could shrink by 5% in FY21: Crisil

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The government has extended the lockdown four times till 31 May to deal with the rising number of coronavirus cases, thus curtailing economic activity severely NEW DELHI : Rating agency Crisil Ltd on Tuesday said Indian economy may contract by 5% in FY21 while revising downward its growth estimate for the year from 1.8% estimated in April, holding that India’s partial lockdown continues to be a hindrance to normal economic activity while the underwhelming economic package is unlikely to boost the economy in the short run.

The government has extended the lockdown four times till 31 May to deal with the rising number of coronavirus cases, thus curtailing economic activity severely.

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