fbpx
  • Hindi
  • Heritage Edge
  • Sports Edge
  • Wildlife Edge
SHARP. BITTER. NEUTRAL.
No Result
View All Result
  • Login
The Edge Media
Wednesday, October 4, 2023
  • Home
  • National Edge
  • State Edge
  • Political Edge
  • World Edge
  • Entertainment Edge
  • Business Edge
  • Sports Edge
  • Home
  • National Edge
  • State Edge
  • Political Edge
  • World Edge
  • Entertainment Edge
  • Business Edge
  • Sports Edge
No Result
View All Result
The Edge Media
No Result
View All Result
Home Business Edge

Indian Economy To Contract 5% in 2020-21 due to slump in Economic activities.

The Edge Media by The Edge Media
3 years ago
in Business Edge, Main Story
Reading Time: 1 min read
0
Share on FacebookShare on TwitterShare on LinkedInShare via TelegramSend To WhatsApp

Fitch Ratings on Tuesday forecast the Indian economy to contract 5 percent in the current fiscal on account of the slump in economic activities following a “very severe” lockdown that has lasted much longer than expected.
In its Global Economic Outlook (GEO) for May, Fitch projected growth to rebound to 9.5 percent in 2021-22 and an estimated 3.9 percent growth in 2019-20.
The forecast of 5 percent contraction is a sharp decline from 0.8 percent growth projected by the global rating agency in late April.

“The biggest forecast cut was to India where we now anticipate a 5 percent decline in the current financial year (ending March 2021) in contrast to an earlier forecast of growth of 0.8 percent. India has had a very stringent lockdown policy that has lasted a lot longer than initially expected and incoming economic activity data have been spectacularly weak,” Fitch said.

Previous Post

India faces its worst locust swarm in nearly 30 years

Next Post

Global carbon pollution level falls by 17%

Related News

Man Arrested From Gorakhpur for Threatening to Kill PM Modi and CM Adityanath

Man Arrested From Gorakhpur for Threatening to Kill PM Modi and CM Adityanath

by The Edge Media
July 11, 2023
0

Early in the morning of Monday, June 15th, an alarming scene unfolded in Gorakhpur, India. A man, identified as Shabir...

BJP Disrupts Bihar Assembly Proceedings Over Tejashwi Yadav’s Resignation

BJP Disrupts Bihar Assembly Proceedings Over Tejashwi Yadav’s Resignation

by The Edge Media
July 11, 2023
0

The Bihar Assembly was stunned into silence on Tuesday as BJP legislators disrupted proceedings and demanded the resignation of Deputy...

Delhi CM To Establish Doorstep Ration Delivery Without Center’s Approval

Delhi CM Kejriwal Links GST to ED, Warns Traders of Arrests for Tax Avoidance

by The Edge Media
July 11, 2023
0

It was a shocking announcement when Delhi Chief Minister Arvind Kejriwal recently announced that any traders caught avoiding GST payments...

CJI D.Y. Chandrachud Leads Supreme Court Bench to Consider Constitutional Challenges to Removal of Article 370

CJI D.Y. Chandrachud Leads Supreme Court Bench to Consider Constitutional Challenges to Removal of Article 370

by The Edge Media
July 11, 2023
0

On August 28th 2019, the Supreme Court of India began to consider the constitutional validity of the recent repeal of...

Relief Efforts Underway as Nainital’s Ramgarh Battles Heavy Rainfall

Relief Efforts Underway as Nainital’s Ramgarh Battles Heavy Rainfall

by The Edge Media
July 11, 2023
0

As the monsoon season brings heavy rainfall to the town of Ramgarh in the state of Uttarakhand, India, relief efforts...

Fatal Helicopter Crash Near Mount Everest in Nepal: 6 Onboard Dead

Fatal Helicopter Crash Near Mount Everest in Nepal: 6 Onboard Dead

by The Edge Media
July 11, 2023
0

On Monday, April 27th, 2020, a tragic helicopter crash near Mount Everest in Nepal left six people dead. The group...

Discussion about this post

Recommended

Uncontrolled situation in UP!

2 years ago

Aviation scam case: ED to grill Praful Patel for second consecutive day

4 years ago

Popular News

    • Hindi
    • Heritage Edge
    • Sports Edge
    • Wildlife Edge
    SHARP. BITTER. NEUTRAL.

    © 2021 The Edge Media All Rights Reserved.

    No Result
    View All Result
    • Home
    • National Edge
    • State Edge
    • Political Edge
    • World Edge
    • Entertainment Edge
    • Business Edge
    • Sports Edge

    © 2021 The Edge Media All Rights Reserved.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In