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ICRA warns of deep recession, GDP to contract 5% in FY21
May 20, 2020 | By Moneycontrol.com
business
Though the government has been claiming that its economic stimulus package is worth 10 percent of GDP or Rs 20.9 lakh crore, analysts have pegged it at just 0.8 - 1.2 percent of the GDP.
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Domestic rating agency Icra on Wednesday warned of a deep recession as it drastically lowered FY21 growth forecast for India to minus 5 percent, citing the very modest fiscal support, extension of the nationwide lockdown and looming labour shortage. The agen
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