GDP likely to grow at 1.9% if lockdown is lifted in mid-May: India Ratings

Meanwhile, CRISIL has cut estimates of India's FY21 economic growth rate to 1.8% from earlier 3.5%

The Indian economy may either contract 2.1 per cent or grow 1.9 per cent in the current fiscal year (2020-21), depending on when the lockdown is lifted and how soon the economic activity picks up, India Ratings and Research (Ind-Ra) said on Monday.
 

If the partial lockdown continues till mid-May, the rating agency believes that the economic growth may come down to 1.9 per cent — the lowest in the last 29 years after 1991-92 when the economy grew 1.1 per cent because of the balance of payments crisis. In that situation, Ind-Ra estimate suggests that gross domestic product (GDP)