Crisil revises FY21 real GDP growth forecast to (-)9%


New Delhi, Sep 10 | Credit rating agency Crisil has revised FY21 real GDP growth forecast for India to (-) 9 per cent from (-) 5 per cent projected in May.

According to the ratings agency, with the pandemic’s peak not yet in sight and the government not providing adequate direct fiscal support, the downside risks to its earlier forecast have materialised.

“If the pandemic were to peak out in September-October, GDP growth could move into mildly positive territory towards the end of this fiscal,” the agency said in a report.

“Even in that event, manufacturing is expected to revive faster compared with services. But the risks to our outlook remain tilted to the downside till such time a vaccine is found and mass produced.”

As per the report, Crisil expects a permanent loss of 13 per cent of real GDP over the medium term.

“In nominal terms, this amounts to Rs 30 lakh crore. This is much higher than a 3 per cent permanent hit to GDP in Asia-Pacific economies (ex-China and India) over the medium run estimated by S&P Global in June 1,” the report said.

“Catch-up with the pre-pandemic trend value of real GDP would require average real GDP growth to surge to 13 per cent annually for the next three fiscals – a feat never before accomplished by India.”

Besides, the report said that high-frequency indicators, both conventional and unconventional, correlate reasonably well with GDP estimates.

“In the April-June quarter, GDP contracted 23.9 per cent, but that did not come as a surprise as these indicators were indicating a deep hit. But thereafter, till August end, they showed recovery from April levels, yet remained below pre-pandemic levels, implying the economic contraction continued, albeit less severely than in the first quarter,” the report said.

“Hence, we expect GDP to contract 12 per cent on-year in the second quarter of fiscal 2021.”

Source: IANS

Sponsors Posts

From being a developer to a CEO in California, Manthan Dudeja's top tips to make money while you're still in college

From being a developer to a CEO in California, Manthan Dudeja's top tips to make money while you're still in college

Gone are the days when one had to finish school, college and subsequent years in getting trained to be able to sustain oneself with decent income. Today, what you earn eventually depends upon your skillset and how early you got started to build an expertise in your domain.

Manthan Dudeja, who currently lives in California and is still in his graduation years, understood the perks of starting early and is now a CEO who has worked across a plethora of jobs, from IoS programming to website development and blogging to trying his hand at Amazon Associates.

In conversation with this dynamic entrepreneur, let’s decode the various options for freshers to make a side income while they are still in school/college –

  • Content writer/Editor

Manthan explains how he started off by writing for blogs with whatever knowledge he had and with the help of internet, this could be by either writing for your own online blog, for instance Manthan was interested in Tech, so he was writing for his blog ‘TechCrack‘ or for someone else in the capacity of a content writer.

It’s not difficult to get started if you have the basic understanding to develop a ‘flow’ while writing a piece and the skill to write what suits your target audience.

  • Software developers/ Programmers/ Coders – Today, software/app developers are earning more than the average of $60 an hour by working remotely. There are a host of online paid/free platforms providing trainings to acquire such skills, Manthan has been an app/website developer for the longest time and by far, this skill has given him the best results for his work.
  • Digital Marketer/ E-Marketer-

Your journey to become a digital marketer starts the day you take the step of self-educating yourself and learning the tricks to attract potential customers either by way of Google, Facebook, or any other digital platform by a host of scalable ways on the internet, undoubtedly, digital marketing is the hottest online work from home concept of this decade.

Manthan is today a successful digital marketer who has equipped himself with the advanced knowledge of online ads on various mediums and has effectively used these skills to generate incredible revenue over time.

These are some of the best ways to get started, according to Manthan, all


Sponsors Posts

2 BHK Residential Apartment for Sale in Aadhya Hills Bhita Jabalpur

2 BHK Residential Apartment for Sale in Aadhya Hills Bhita Jabalpur
Aadhya Hills is one of the residential development. It offers spacious and skillfully designed apartments. The project is well equipped with all modern amenities to facilitate the needs of the residents.
  • Property type: Residential Apartment 
  • Offer type: For Sale 
  • City: Jabalpur 
  • Zip Code: 482001 
  • Locality: Bhita 
  • Landmark: Bhita 
  • RERA Registration Number: P-JBP-18-1599 

For more details please click here or visit


Please enter your comment!
Please enter your name here