Economy S&P Global confirms BBB-/A-3 rating on Indian economy; outlook stable Updated : September 25, 2020 10:57 PM IST As per their report, Indian economy will experience a record contraction in FY21, owing to the COVID-19 pandemic. Indian economy faced steep downturns because of the COVID-19 pandemic. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.