x
side-banner

India's economy to experience record contraction in 2020-21: S&P

Shortpedia

Content Team
Image Credit: shortpedia

India's economy may experience a record contraction in the current financial year mainly due to the global COVID-19 pandemic, and the real GDP growth is expected to recover from next fiscal onwards, according to a report by gobal rating agency S&P. India's weak fiscal settings will worsen further this year, constraining the government's ability to aid the economy, it said.