UTC+8 ( BJT)

ADB: Indian FY20 GDP to contract 9%, FY21 to grow 8%

India’s gross domestic product (GDP) growth for fiscal year (FY) 2020 ending on 31 March 2021 is forecast to contract by 9.0% as the coronavirus disease (COVID-19) pandemic weighs heavily on economic activity and consumer sentiment in the country, according to a new report by the Asian Development Bank (ADB).
In itsAsian Development Outlook (ADO) 2020 Update, ADB forecasts a strong recovery for the economy in FY2021, with GDP to grow by 8.0% as mobility and business activities resume more widely. “India imposed strict lockdown measures to contain the spread of the pandemic and this has had a severe impact on

............

To read the full article take a free 7-day trial to Mysteel Global

FREE TRIAL
+65 6653 8227