COVID-19 Crisis: India Likely To Face Its Fourth Recession

Boom Live29 May, 2020News

The Indian economy will contract in the ongoing financial year, according to estimates released by three research houses. They estimate that the Indian economy will contract anything between 5% to 6.8% during financial year 2020 - 2021 (FY21). These houses, namely the research desk of the State Bank of India, Fitch Ratings and CRISIL, estimate that India is slated to witness a recession in its economy this fiscal.