India's GDP to see 5% contraction in FY21, says Icra

4:11am PDT - May 20th, 2020    second stimulus update - The Times of India

The report estimated sharper de-growth in the first and second quarters of FY21 at -25% and -2.1% respectively, down from a range of 16%-20% contraction in Q1 and 2.1% growth in Q2 before. With two consecutive quarters of contraction, it implied the economy w…