ADB estimates – Indian economy will decline by 9% this year

ADB estimates - Indian economy will decline by 9% this year
ADB estimates - Indian economy will decline by 9% this year

ADB estimates – Indian economy will decline by 9% this year. Serval agencies estimate the fall in GDP. Now the Asian Development Bank also released such an estimateADB said that there will be a huge fall due to Corona

ADB estimates – Indian economy will decline by 9% this year

Now the Asian Development Bank (ADB) has estimated that the Indian economy may decline by 9 percent in this financial year i.e. 2020-21. Prior to this, several rating agencies have also released estimates of 9 to 15 percent decline in the Indian economy.

Due to the Corona crisis, the country’s June quarter GDP has fallen drastically by 23.9 percent. Most rating agencies have forecast a steep decline in the economy throughout this financial year.

In the Asian Development Scenario (ADO) -2020 update released by ADB on Tuesday, it said, ‘Economic activity has been badly affected due to Corona virus in India. This has also impacted consumer sentiment, which will cause a 9 per cent drop in gross domestic product (GDP) in the current financial year.

9 to 15 percent figure

Significantly, in this way many rating agencies have released figures of 9 to 15 per cent decline in the Indian economy in this entire financial year. Rating agency Fitch had released an estimate that the Indian economy could decline by 10.5 per cent this financial year due to the Corona crisis.

Investment bank Goldman has estimated that the Indian economy may fall by a massive 14.8 per cent in FY 2020-21. India Ratings and Research (Ind-Ra) has released an estimate of 11.8 percent decline in India’s GDP in the financial year 2020-21. Rating agency Crisil has said that India’s gross domestic product (GDP) may fall by 9 per cent in FY 2020-21.