CARE Ratings Limited in its report, 'Revised GDP growth projections for FY21' has projected hwo much contraction in India's GDP growth for the current financial year FY 21?

CARE Ratings Limited in its report, 'Revised GDP growth projections fo

1.	CARE Ratings Limited in its report, 'Revised GDP growth projections for FY21' has projected hwo much contraction in India's GDP growth for the current financial year FY 21?
Answer» CARE Ratings Limited ( formerly Credit Analysis and Research Limited) in its report, 'Revised GDP growth projections for FY21' has projected a 6.4 % contraction (or -6.4%) in India's GDP (Gross Domestic Product) growth for the current financial year FY 21 (2020-21) due to the continuous lockdown imposed for prevention of coronavirus (COVID-19) epidemic. Earlier in May 2020, the agency had predicted a 1.5 to 1.6 % decline in GDP for 2020-21.