India is staring at its first recession in 40 years. Despite the stock market appearing upbeat, economists are revising growth estimates downwards regularly. “Our current estimate for 2020-21 is -2.1%, assuming the lockdown will not be extended beyond 31 May. If it is extended, we will revise estimates,” says Sunil Sinha, Principal Economist, India Ratings. He is not alone. Crisil has also downgraded its growth forecast for 2020-21. “Due to the Covid pandemic, the first quarter of 2020-21 will s ..
