Icra pegs GDP development at 2% in March quarter

Mumbai, May 24

Domestic ratings agency Icra on Monday forecast a 2% GDP growth in the fourth quarter of 2020-21, and a 7.3% contraction for the full fiscal year.

From a GVA or gross value added perspective, the agency pegs Q4 growth at 3% and the full year contraction at 6.3%.

According the agency, the 2% projected GDP growth will help the economy avoid a double-dip recession as indicated by the National Statistical Office (NSO) for Q4. — PTI

GVA growth at 3%

The rating agency has projected the GVA growth at 3% in Q4 of FY21, up from 1% in Q3

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