India’s GDP may shrink by 6.4% in FY21: Care Ratings

GDP
  • Care Ratings on 2nd July updated India’s GDP growth prediction for the current financial year to (-) 6.4 percent as economic activity continues to be under restraint because of the lockdown on account of the COVID-19 pandemic. The rating agency, in May, had predicted a decline in GDP growth of 1.5-1.6 percent in FY21.
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