CARE Ratings Revises India's GDP Forecast

• The rating agency CARE Ratings has reduced the projection of India's economic growth from 10.9% to 10.2%.

• Earlier the agency projected the economy to grow at 10.7%-10.9%.

• They have revised the projections three times in the last month.

• "We have revised our forecast for GDP growth for FY22 as the underlying conditions have changed rapidly in the last 30 days or so. It stands now at 10.2%," CARE Ratings said.

• On 24th March, the agency projected the economy to grow at 11%-11.2%.

• On 5th April 2021, the growth was forecast at 10.7%-10.9%.