Pandemic to bite deeply, India’s GDP to shrink by 6 per cent in FY21: DBS Report

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Citing the yet to be stabilised infection curve and the COVID-19 caseload in economically key states, Singaporean brokerage DBS on Wednesday forecast deeper distress for the country which will lead to a 6 per cent growth contraction in FY21. In its earlier forecast, the brokerage had penciled in a minus 4.8 per cent growth for … Read more

India’s GDP to contract by 3 per cent in FY21: BofA

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India’s GDP will contract by 3 per cent in FY21 because of the coronavirus pandemic, assuming the economy is opened up fully from next month, a foreign brokerage said on Thursday. BofA Securities also said the RBI will monetise the fiscal deficit through purchase of government bonds of up to USD 95 billion through open … Read more