Skip to content
Indian economy to bounce back with growth of 9.5% in next fiscal
- After a contraction in the current financial year, India’s economy is forecast to bounce back with a sharp growth rate of 9.5 per cent next year.
- According to Fitch Ratings, this will happen provided it avoids further deterioration in financial sector health.
- The coronavirus pandemic will lead to shrinking of the already slowing economy in 2020-21 that started in April.
- Fitch Ratings forecast a 5 per cent contraction in the GDP in the ongoing financial year, news agency PTI reported.
- The pandemic has drastically weakened India’s growth outlook and laid bare the challenges caused by a high public-debt burden.
You May Also Like