New Delhi: Global rating agency Fitch Ratings on Friday lowered India's growth forecast for 2020-21 to 2 per cent. This will be the lowest level of 30 years. The rating agency said in a statement that the lockdown caused by the coronavirus epidemic has hit the global economic recession.

Money will come into Jan Dhan accounts for three months from today

The report predicted that a global recession could occur this year. India is also vulnerable. Given this, India's growth projections for 2020-21 have been worked out to 2 per cent. Fitch's report states that micro, small and medium-sized enterprises and service sectors have been the most affected by the decline in customer demand. Earlier, Fitch had lowered India's growth forecast for 2020-21 to 5.1 per cent in March 2020, while in December 2019, Fitch had projected a growth rate of 5.6 per cent in this financial year.

Bigbasket to hire 10,000 people for warehouses, delivery amid corona outbreak

Professor NR Bhanumurthy of National Institute of Public Finance and Policy said that the current lock-down will worsen the situation of the Indian economy. The Indian economy can achieve the lowest growth since economic reforms.

Aditya Birla Group came forward in battle with Corona, donates large amount