Moody's projects Indian economy to contract 11.5% this fiscal

11 Sept 2020

Moody's projects Indian economy to contract 11.5% this fiscal

Moody's  says Mutually reinforcing risks from deeper stresses in the economy and financial system could lead to a more severe and prolonged erosion in fiscal strength, exerting further pressure on the credit profile.

Domestic agencies Crisil and India Ratings and Research have projected contraction of 9 per cent and 11.8 per cent, respectively. For 2021-22, the projected economy was to clock a growth of 10.6 per cent.