India Ratings Revises 2020-21 GDP Projection To -11.8%

Credit ratings agency India Ratings and Research on Tuesday revised the country's gross domestic product (GDP) forecast to -11.8 per cent for the financial year ending March 2021, from -5.3 per cent earlier.

The ratings agency, however, said it expects the country's GDP to rebound, and expand at 9.9 per cent year-on-year in financial year 2021-22, mainly due to the weak base of financial year 2020-21.