ICRA Slashes India’s GDP Forecast by 0.5% to 10.5% in FY22

ICRA Slashes India’s GDP Forecast by 0.5% to 10.5% in FY22

• The domestic rating agency ICRA has cut the growth estimate of India for 2021-22 by 0.5 percent on the upper end, and now expects the economy to grow 10-10.5 percent in 2021-22 as against 10-11 percent estimated earlier.
• The downward revision in the forecast follows the lockdowns and restrictions which are getting imposed once again due to rising COVID-19 cases.

Points to Remember

1. What is the projected growth rate of Indian economy in FY22 as per ICRA?
2. ICRA Ltd headquarter – Gurgaon

Source: Business Standard