The Finance Ministry projected real GDP to bounce back in 2021-22 with 11 per cent growth.
The median projection of 33 professional forecasters from financial markets and industry bodies, surveyed by the RBI, was 7.6 per cent contraction in real GDP in 2021-22.
CMIE projected real GDP to contract by 8 per cent in FY 21 and projected growth of 8.7 per cent for FY22.
IMF estimated real GDP growth to contract by 8 per cent in 2020-21.
SBI retained its forecast of 11 per cent growth in India's GDP in financial year 2021-22. SBI expects GDP decline for the full year to be around 7.0 per cent as compared to its earlier prediction of (-) 7.4 per cent.
For the next financial year 2021-22, S&P projected growth to rebound to 10 per cent. S&P Global Ratings has revised real GDP growth to negative 7.7 per cent for the year ending March 2021, from the previous (-)9 per cent.
Fitch Ratings expects the GDP to expand by 11 per cent in FY22 after falling by 9.4 per cent in FY21.
Domestic rating agency Icra Ratings expects the country's real gross domestic product (GDP) to grow by 10.1 per cent in 2021-22. SHIVANI SHARMA, PRAGATI SRIVASTAVA