Top headlines: Rating firms cut GDP forecast, hiring outlook at 15-year low

Global rating and research houses, such as Fitch and Goldman Sachs, have cut their estimates for growth in India's GDP for the current fiscal 2020-21.

Goldman Sachs to Fitch: Rating agencies cut India's GDP forecast
 

Global rating and research houses, such as Fitch and Goldman Sachs, have cut their estimates for growth in India’s gross domestic product (GDP) for the current fiscal 2020-21 (FY21). While Fitch now expects the country’s GDP to contract 10.5 per cent in FY21 versus its earlier estimate of 5 per cent contraction in this period, Goldman Sachs forecasts a sharper contraction at 14.8 per cent (-11.8 per cent forecasted earlier) in FY21 and 11.1 per cent (-9.6 per cent earlier) in calendar year (CY20). Read More...

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