Current Affairs - Economy - Discussion

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.