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Indian economy

Unreal optimism

Standard & Poor’s has already observed that the recession caused by the pandemic will have a deeper and longer impact on lenders than apprehended earlier and that gross NPAs may jump to 14 per cent in the current financial year, up from 8.5 per cent.

Indian economy in deep trouble: S&P

In its report titled 'Asia-Pacific losses near USD 3 trillion as balance sheet recession looms', S&P projected the region's economy to shrink by 1.3 per cent in 2020, but grow by 6.9 per cent in 2021.