 "Indian economy")
S&P Global Ratings on Monday said Indian economy will shrink 5 per cent in the current fiscal, saying the fiscal stimulus worth 1.2 per cent of GDP will not be enough to provide significant growth support.
In a report on emerging markets titled 'Financial Conditions Reflect Optimism, Lockdown Fatigue Emerges', S&P said the services sectors, which are large employers, have been severely affected, leading to widespread job losses.
"Migrant workers have been geographically displaced, and we expect it will take some time to unwind this process. There will be supply chain disruptions over the transition period," S&P said.
The rating
