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Indian Economy to Contract by 6.4% -- By Care Ratings

Published on July 05, 2020
Current Context: Care (Credit Analysis and Research Limited) Rating has forecasted that Indian Economy to contract 6.4% for the financial year 2020-21.
Indian Economy to Contract by 6.4% -- By Care Ratings
  • This contraction value in GDP is cited because the economic activities are getting continuously hindered due to lockdown situation of COVID-19.
  • The rating agency has also expected a positive growth will come from agriculture and government sector.
  • As per the report, two-third of the economic sector will operate at 50-70% by the end of the third quarter for FY 2020-21.
  • Static Part: 
    • HQ of Care Rating: Mumbai
    • MD and CEO of Care Rating: Ajay Mahajan

Question: 

Q.1 Care Rating has forecasted that Indian Economy to contract ____% for FY 2020-21?
a. 7.5%
b. 4.5%
c. 6.4%
d. 5.4%
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