Indian economy will make a big comeback only after dealing with Corona, economic growth may be at 9.5% next year: rating agency Fitch
Even though the Indian economy is struggling with a deep crisis due to Corona's crisis, next year a golden picture can be seen. Rating agency Fitch has forecast India's economic growth rate to reach 9.5% in FY 2021-22. If this happens, it could be a big success for the Indian economy, which is already going through a recession since the era of Corona. With this, the Fitch rating agency said on Wednesday that the Indian economy could see a 5 per cent decline in the current financial year.
The Fitch rating agency said on Wednesday, "The Corona virus crisis has weakened India's growth outlook. However, after this global crisis, India's GDP growth may reach a higher level. This growth will be seen in India even after the financial sector is affected due to Corona crisis. The agency said that India's economic growth could go up to 9.5%.
Explain that to deal with the corona virus crisis, India had announced the world's largest lockdown, due to which economic activities were completely stalled. However, unlock has started in the country since June 1 and now economic activities have started. Meanwhile, the rating agency has once again questioned the Rs 21 lakh crore package issued to deal with the recession caused by the Corona crisis.
The agency said that the government has said about this package that a package equivalent to 10 percent of GDP has been released, but in reality it is going to spend only one percent of GDP. Significantly, several agencies such as World Bank and IMF, including Fitch, have predicted a big fall in India's growth rate due to Corona.