ICRA

GST compensation requirement of states to surge to Rs. 4.1 trillion in FY2021, sharply outweighing likely compensation cess collections Modest fiscal support, extension of lockdown, looming labour supply mismatches suggest deeper GDP contraction of 5.0% in FY2021 Subdued demand from Iran and weak HORECA demand expectations amid Covid outbreak dampen FY2021 prospects for Indian Basmati Rice Sector

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