Care Ratings forecasts Indian Economy to contract by 6.4%

Posted byDevanshu Kaushik Published On July 4th, 2020 Leave a comment on Care Ratings forecasts Indian Economy to contract by 6.4%

Care Ratings has forecasted Indian economy to contract by 6.4% for the financial year 2020-21. The rating agency has slashed the GDP growth rate of Indian economy citing continued restrictions in the economic activities due to the lockdown on account of the COVID-19 pandemic. It also expects that the positive growth will come from only agriculture and the government sector.

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