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Goldman Sachs slashes India's FY21 real GDP growth forecast to 1.6%

While the fiscal easing so far has been limited, they do expect more fiscal measures by the central and the state governments.

fiscal deficit, economy, illustration
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Goldman Sachs, like most other research houses, expects a strong economic recovery in the second half of FY21

Puneet Wadhwa New Delhi
Goldman Sachs expects the global economy to sink into recession in 2020 and sees the coronavirus (Covid-19) pandemic–hit global gross domestic product (GDP) come in at a negative 1.8 per cent in 2020. The latest forecast is a 5 percentage point (pp) downward revision since early this year and around 3 pp lower than the March 22 forecast.

For India, the global research house has lowered its real GDP forecast to 1.6 per cent in financial year 2020-21 (FY21) from 3.3 per cent earlier. This, however, is still higher than United States, which it now sees contracting to -6.2 per

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