S&P Global Ratings Projects India’s GDP at -9% in FY21 & 6% in FY22

S&P Global Ratings has projected the GDP of India to contract by 9% in the fiscal year 2020-21 (FY21), as against its previous estimate of a 5% contraction, due to the impact of the COVID-19 pandemic.
For the Fy22 (2021-22), S&P expects GDP growth of 6%.
For the Fy23 (2022-23), GDP is projected at 6.2%.