Indian economy may see its worst contraction in FY21 at 10.5%: Fitch2 min read . Updated: 08 Sep 2020, 11:21 AM IST
- In its latest Global Economic Outlook for calendar year 2020, Fitch revised upward its GDP estimate for the world to a contraction of 4.4% from a contraction of 4.6% estimated in June
Fitch Ratings on Tuesday slashed its FY21 gross domestic product (GDP) forecast for India to a contraction of 10.5% from a contraction of 5% estimated in June, holding that limited fiscal support, fragilities in the financial system, and a continued rise in coronavirus cases hamper rapid normalization in activity.
Select your Category