CARE ratings projects India’s GDP to contact between 8-8.2% in FY21

The Indian rating agency, CARE Ratings has projected the GDP of India to contract in the range 8 to 8.2% for 2020-21 (FY21). This is more than its earlier projection of -6.4%. The decline in GDP growth by around 8 per cent would also be associated with a decline in the gross fixed capital formation.

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Important takeaways for all competitive exams:

• CARE Ratings Founded: 1993.
• CARE Ratings: Mumbai, Maharashtra.
• CARE Ratings Managing Director & Chief Executive Officer: Ajay Mahajan.

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