Fitch slashes India's growth forecast for 2020-21 from 5.1% to 2%

Fitch Ratings has said it has cut the 2020-21 growth projection for India to a 30-year low of 2% from 5.1% projected on March 20. Fitch added that it expects a global economic recession this year due to the lockdown over coronavirus pandemic. Last week, Moody's slashed its estimate of India's GDP growth for the calendar year 2020 to 2.5%.