Professional forecasters predict contraction of nearly 6% in FY21 GDP

Despite this precipitous fall, they expect the farm sector to grow at 3.4%, and industry and services to contract sharply by 9.7%, and 6.1%

While the Reserve Bank of India chose either to not model, or not declare its estimate on growth, or inflation, in the August policy document, the economists roped in to forecast medium term macroeconomic developments have given their estimate. 

They predict that India’s gross domestic product (GDP) could contract by 5.8 per cent in the current financial year, and would spring back to near-7 per cent in FY22 under a favourable low base. 

Despite this precipitous fall, they expect the farm sector to grow at 3.4 per cent, and industry and services to contract sharply by 9.7 per cent, and 6.1 per