Agency had forecast a small contraction of one per cent during Q3
As Q2 will be the second quarter of economic contraction, India in all probability has entered a technical recession for the first time since quarterly GDP data began being compiled
The US-based firm said developments on the vaccine front -- where two candidates have posted satisfactory progress -- will be very helpful in the recovery
India's economy had the biggest contraction, 24 per cent year-over-year in the second quarter
Power generation numbers and Delhi emissions, too show economy may be turning the corner
Attributes move to continued spread of Covid-19 pandemic
Ratings agency ICRA has revised its forecast for the contraction in India's FY21 GDP to 11 per cent from its earlier assessment of 9.5 per cent
Deutsche raised its forecast for global GDP, expecting it to shrink 3.9% this year after predicting in May a contraction of 5.9% for 2020
Irrespective of whether it is sequential or year-on-year, the inference remains the same; South Africa's 50% contraction is "annualised" and is incomparable to India's 24% fall
UBS Securities said it forecasts a GDP contraction of 8.6% in FY21 as against its earlier prediction of 5.8%, citing factors including the modest government response to the crisis for its estimate
The global rating agency had earlier predicted GDP to contract 4 per cent. On Friday, it predicated 11.5 per cent contraction
CARE Ratings said the country's economy is likely to see a sharper contraction of 8-8.2 per cent in the current financial year compared to a decline of 6.4 per cent it had projected earlier
The downward revision in India's forecast for FY21 comes on the heels of a sharp contraction in Indian economy in the April-June 2020 period
Impact on wages to severely dent consumption and decelerate recovery, says India Ratings
Prescribe demand booster dose from govt, but many say that's unlikely to come
GDP data for the April to June quarter will reveal how badly the economy was hit by the coronavirus pandemic
The most pessimist one projects it at 25%
The rating agency, in May, had projected a decline in GDP growth of 1.5-1.6 per cent in FY21.
However on the extreme ends, Bernstein pegged fall in the gross domestic product (GDP) at 7 per cent and Asian Development Bank projected GDP growth at 4 per cent
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