CRISIL pegs India's FY21 economic growth rate at 1.8% from 3.5%

Domestic rating agency CRISIL on Monday cut its projections for India’s economic growth rate to 1.8 per cent, from 3.5 per cent it had earlier predicted for 2020-21.
 

Its parent Standard & Poor’s has (S&P) forecast the world economy to contract 2.4 per cent, against its earlier estimates of 0.4 per cent growth. CRISIL had a gross domestic product (GDP) growth estimate of 6 per cent for 2020-21 (FY21), which was revised to 3.5 per cent in late March.

Among the major economies,