InvestorQ : Is it true that Goldman Sachs has lower the growth rate projection for the Indian economy in the current year 2020?
Chandralekha Desai made post

Is it true that Goldman Sachs has lower the growth rate projection for the Indian economy in the current year 2020?

Answer
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Mitali Bhutta answered.
3 months ago


Concerns over growth are nothing new. Goldman Sachs has lowered the projected growth rate for calendar year 2020 and has now projected GDP to contract by (-4.6%) for the full year. Goldman expects the pain of growth to remain constant till September but expect a sharp turnaround after that. The economists are expecting a 25% growth QOQ basis.

However, economists at Goldman continued to be optimistic about 2021 and expect GDP growth to resume at 5.8% with unemployment at 9%. These estimates are slightly worse than the 4.2% contraction that Goldman had predicted in the economy for the year 2020.