CRISIL Lowers India’s GDP Growth for FY21 to 5.2%

Crisil has cut India’s GDP growth rate forecast for FY21 from 5.7 % to 5.2 % citing financial sector stress and COVID-19 impact.
Crisil declared serious downside to the base case can emerge from two developments-
The pandemic is not contained by April-June 2020 globally, and makes the global slowdown more severe.
It spreads rapidly in India, affecting domestic consumption, investment, and production.