Goldman Sachs raises FY21 Indian GDP forecast to -10.three%

2020/11 20 10:11

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Goldman Sachs not too long ago revised upwards its progress forecast for India for fiscal 2020-21 to a 10.three per cent contraction from minus 14.eight per cent it had projected in September. In a report, the funding financial institution projected India’s gross home product (GDP) to rebound to 13 per cent within the subsequent scale in contrast with 15.7 per cent estimated earlier.

“A pivotal assumption for our 2021 India progress outlook is broad-based availability of an efficient vaccine, which may permit containment insurance policies and mobility to normalize absolutely by mid-2022,” mentioned Jonathan Sequeira and Andrew Tilton, economists at Goldman Sachs, within the report.

This could permit a significant exercise rebound in 2021, significantly in consumer-facing providers sectors, the place exercise stays considerably under pre-COVID ranges, Indian media reported citing the report.

The most recent revision marks the second such improve in India’s efficiency on this fiscal by a worldwide establishment.

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Goldman Sachs not too long ago revised upwards its progress forecast for India for fiscal 2020-21 to a 10.three per cent contraction from minus 14.eight per cent it had projected in September. In a report, the funding financial institution projected India’s gross home product (GDP) to rebound to 13 per cent within the subsequent scale in contrast with 15.7 per cent estimated earlier.




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