Moneycontrol's Sakshi Batra does a 3-Point Analysis to find out the reasons behind World Bank's bleak forecast
The World Bank has downgraded India’s FY21 gross domestic product (GDP) forecast. It expects the economy to contract by 9.6 percent as compared to its June estimate of a 4.5 percent contraction. It added that South Asia as a region is set to plunge to its worst-ever recession with a sharper than expected contraction of 7.7 percent.So, why has the World Bank further cut India's GDP forecast? What it means for the Indian economy? And what can be the outlook going forward? Let's find out answers to all these questions in this edition of 3 Point Analysis with Sakshi Batra.