Indian Economy To Contract 10.5% In 2020-21: Fitch

Tuesday, 8 September 2020Newsdesk

Fitch Ratings on Tuesday projected a contraction of 10.5 per cent for India's economy in the current financial year. Last month, official data showed that the country's gross domestic product (GDP) shrank 23.9 per cent in the April-June period, in one of the sharpest contractions in the world.

New Delhi, 08 September 2020

As per news report of NDTV, that was triggered by one of the most stringent nationwide lockdowns in the world. "GDP should rebound strongly in 3Q20 (October-December) amid a re-opening of the economy, but there are signs that the recovery has been sluggish and uneven," Fitch said.

Source -NDTV