Coronavirus impact: DBS revises India's GDP estimate to 1.5% for FY21

Singapore's banking group DBS on Thursday revised India's GDP estimate to 1.5 per cent for the current fiscal amid the ongoing lockdown due to the coronavirus pandemic, PTI reported.

The development comes a day after American brokerage Goldman Sachs revised its forecast for the country's real GDP growth to 1.6 per cent as against 3.3 per cent it had estimated earlier. Goldman Sachs, like most other research houses, expects a strong economic recovery in the second half of FY21.

"We have revised GDP estimate for FY21 at 1.5 per cent year-on-year vs 4.5 per cent in FY20," DBS Bank India's