India Software and IT sector numbers and Automobile sector good numbers indicate, no possibility of double digit GDP decline in FY 2020-21. Only single digit GDP decline will be there.
Infosys, TCS, Wipro, HCL Technologies which are software and IT companies had posted good revenue growth and net profit growth in FY 2020-21.
Passenger vehicle sales in India has shown good growth when compared month on month improvement from post lockdown period. August and September month sales of passenger vehicles in India is good relatively.
Even recent IIP numbers indicate, in terms of electricity production, India almost reaching level of pre Covid-19.
The above factors indicate that India GDP will decline only in single digit number and will not be in double digit for FY 2020-21.
Really this time, Software and IT companies and automobile sector will contribute in good way to India GDP.
India has to study what all steps took by USA government when it developed from 2.7 Trillion dollar industry to 5 Trillion dollar industry.
India has to implement whatever possible among them considering India current economy status.