GDP Growth To Be In Negative Territory In 2020-21: RBI Governor

22 May 2020 The Reserve Bank of India (RBI) expects the country’s GDP or gross domestic product to contract in the current financial year, Governor Shaktikanta Das said on Friday, as he announced a reduction in the repo rate by 40 basis points to 4 per cent. GDP growth will be in the negative territory in 2020-21, Mr Das said in his first address to the media after the government unveiled a fiscal and monetary stimulus worth Rs 20.97 lakh crore to support the economy’s fight against the coronavirus pandemic and the weeks-long lockdown. Friday’s moves were aimed at countering the economic fallout from an ongoing nationwide lockdown to contain the spread of the coronavirus pandemic.

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