Lockdown Impact - India GDP Growth To Be 10.2% In FY22: CARE Ratings 
A taxi drives on a empty street at night during a weekend lockdown in Mumbai, India. (Photographer Dhiraj Singh/Bloomberg)

Lockdown Impact - India GDP Growth To Be 10.2% In FY22: CARE Ratings 


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CARE Ratings Research Report

Towards the end of the last fiscal year on March 24 we had projected growth in gross domestic product for FY22 to be between 11-11.2% based on gross value added growth of 10.2%.

The spread of the virus in Maharashtra had led to the announcement of a lockdown by the state government which began in a less stringent manner from the first week of April.

Consequently, on factoring the potential loss of economic output due to the restrictions in Maharashtra on April 5 we lowered our GDP forecast for FY22 to 10.7-10.9%.

But the lockdown has been made more obtrusive to business activity by April 20, with more stringency expected for the forthcoming fortnight.

Click on the attachment to read the full report:

CARE Ratings Lockdown Impact .pdf


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