India's growth will be negative this year: FM

October 27, 2020 17:59

India's growth this year will be negative or near zero, Finance Minister Nirmala Sitharaman, said at the 4th Annual India Energy Forum by CERA Week. She added that the festival season has commenced in India, as a result of which she expected the demand to go up and therefore, be sustainable also. Foreign Direct Investment (FDI) inflow between April & August of 2020, grew by about 13% compared to non-COVID 2019's comparable period.

India's public debt ratio, which remarkably remained stable at around 70 per cent of the GDP since 1991, is projected to jump by 17 percentage points to nearly 90 per cent because of increase in public spending due to COVID-19, the IMF said last week.

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