Ind-Ra lowers India’s GDP growth forecast by 10 basis points to 9.3% in FY22

Ind-Ra lowers India’s GDP growth forecast by 10 basis points to 9.3% in FY22

  • The ratings agency India Ratings and Research (Ind-Ra) has downgraded the GDP of India for the current fiscal FY 2021-2022.
  • Ind-Ra expects the GDP to clock a growth rate of 9.3% y-o-y in FY22. Earlier this estimate was 9.4%.
  • Meanwhile, Brickworks Ratings has also revised India’s GDP growth forecast for the current fiscal (FY22) to 8.5-9%. Earlier this was estimated at 10%.
  • The rapid spread of the Omicron variant is the main driver to downgrade GDP growth projections.

Points to Remember:

  1. GDP growth rate of India as per Ind-Ra in FY22?
  2. GDP growth rate of India as per Brickworks Ratings in FY22?

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