India’s GDP May Contract 7.7% In FY21 - First Advance Estimate: Care Ratings  
Light trails are left by passing traffic in front of commercial buildings in New Delhi, India (Photographer Anindito Mukherjee/Bloomberg)

India’s GDP May Contract 7.7% In FY21 - First Advance Estimate: Care Ratings  

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Care Ratings Research Report

In line with Care Ratings’ expectations, the Central Statistic Office has estimated a sharp contraction of 7.7% for the Indian economy during FY21 in its release of the first advance estimate of gross domestic product.

This estimate is also in line with the Reserve Bank of India’s estimate of down 7.5% estimated in December 2020. The RBI had revised upwards its previous forecast (down 9.5%), pegging the contraction in the economy at 7.5%.

The decline in nominal GDP is at a record low of 4.2% and is pegged at Rs 194.8 lakh crore for the year.

Click on the attachment to read the full report:

Care Ratings GDP 1st Advance Estimate.pdf

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