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BofA, CRISIL cut India growth forecast amid coronavirus outbreak

Crisil had earlier forecast the GDP printing in a 5.7 per cent expansion

Agencies 

coronavirus
A Jammu Municipal Corporation health worker fumigates an area as a precautionary measure against the spread of coronavirus at Government Medical College hospital in Jammu

Brokerage Bank of America () Securities and rating firm cut India’s growth forecast on Thursday, in light of the Covid-19 pandemic.

While has sharply cut the June quarter growth forecast by 90 bps to a low of 3.1 per cent and the full-year FY21 GDP target by 100 bps to 4.1 per cent, said the pandemic will leave the economy crippled next fiscal year pulling down the growth to a low of 5.2 per cent. had earlier forecast the GDP printing in a 5.7 per cent expansion.

The report from economists at comes just a day after they slashed their full-year FY21 forecast by 80 bps to 5.1 per cent.


First Published: Fri, March 20 2020. 01:55 IST
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