CARE Ratings in its latest report has said that the India’s Gross Domestic Product (GDP) growth is likely to be at 3.6 percent in Q4 of FY20 as economic activity came to a complete halt due to the countrywide lockdown imposed to contain the coronavirus outbreak.
It said ‘we expect GDP growth in Q4 to be 3.6 percent with the headline number coming down to 4.7 percent for the entire year.’ The expected growth of 3.6 percent will be an all-time low in the GDP new series. In the first three quarters of FY20, the growth was 5.1 percent.
It mentioned while the shutdown was in the last week of March several restrictions had come in earlier especially for services which would have pushed back growth numbers further. Besides, it said considering that growth is expected to be a substantial negative in Q1 of FY21, the downward trajectory will be exacerbated this year and can show positive signs only post Q3 FY21.’
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