India Ratings projects India’s GDP to contract by 5.3% in FY21

India Ratings and Research has projected the GDP growth of India to contract by 5.3% in 2020-21 (FY21).
India Ratings and Research expects the GDP of India to grow in the range of 5-6% in FY22.
This will be the lowest GDP growth in Indian history and the sixth instance of economic contraction, others being in FY58, FY66, FY67, FY73 and FY80.