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COVID-19 impact | GDP growth in Q4FY20 seen at 3.6%: CARE Ratings

The ratings agency says in its report that the Q4 figures will be noteworthy especially since it includes a week of lockdown, something that could very well skew the growth numbers.

May 28, 2020 / 05:58 PM IST

With the GDP numbers for the January to March quarter of fiscal year 2019-20 (Q4FY20) set to be released on May 29, CARE Ratings expects growth to be 3.6 percent, with the headline number coming down to 4.7 percent for the entire year.

It said the Q4 figures will be noteworthy especially since it includes a week of lockdown, something that could very well skew the growth numbers.

"Several companies tend to have some kind of bunching of activity towards the end of the financial year to meet their targets. This lends an upward thrust to growth numbers. In the Indian case, 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," CARE Ratings said.

"Growth was 5.1% for the first 9 months and would come down to 4.7% by our estimates," it said.