Heading into 2021, the prospects for a continued upswing in the domestic currency appear upbeat, as India‘s economy is set to recover from damage caused by the pandemic. The INR bulls remain hopeful the Finance Ministry’s USD260 billion fiscal stimulus package would help revive the economy.To get more news about WikiFX, you can visit wikifx official website.
S&P Global Ratings upgraded India's FY21 Gross Domestic Product (GDP) growth forecast to -7.7% vs. the previous estimate of -9%. For the next fiscal year, the US-based ratings agency projected a 10% economic growth rebound. The upward revision comes on the heels of a faster-than-expected recovery, improving domestic consumption and falling covid rates amid availability of the coronavirus vaccine.