Goldman Sachs raises India’s FY21 GDP forecast to -10.3%

Date posted: Thursday 19 November 2020

Goldman Sachs revised upwards its FY21 growth forecast for India to a 10.3% contraction, from -14.8% it had projected in September, according to a report released. As announcements of effective vaccines begin to take hold of the global pandemic rhetoric, the investment bank projected India’s GDP to rebound to 13% in the next fiscal, compared with 15.7% estimated earlier. Moody’s Investor Service also upgraded its estimate for the Indian economy to an 8.9% contraction for the calendar year 2020 against previous estimates of a 9.6% contraction.
(Economic Times)

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