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Analysts have started revising upwards their projections for India's economic performance in the current fiscal year (2020-21, or FY21) after gross domestic production (GDP) belied market expectations in the second quarter (Q2) of FY21 by posting moderate contraction at 7.5 per cent.
GDP had declined 23.9 per cent in the first quarter of FY21.
While the economy will still see a fall in FY21, it is likely to be less pronounced than what experts had forecast earlier.
QuantEco Research projects GDP to decline 8.3 per cent in the entire fiscal year, against its earlier forecast of a 9.5-per cent fall.
Its Founder Shubhada Rao
