‘India’s GDP may dip to 1.6% in FY21’

India’s GDP growth is estimated to plunge to 1.6% for fiscal year 2021 due to the impact of the Covid-19 pandemic, down from the earlier projection of 3.3%, Goldman Sachs economists have said. “The 1.6% growth for FY21 would be deeper compared to widely perceived ‘recessions’ India experienced in the 1970s, 1980s and in 2009,” the report said.

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