Rating Agencies downgrade India’s GDP forecasts for FY22 following surge in Covid Cases
- The leading brokerages have downgraded India’s GDP growth projections for the current fiscal year 2021-22, due to rise in COVID-19 cases, which pose risks to economic recovery.
- Given below in the GDP growth forecast by several rating agencies for FY22
| Agencies | FY22 (revised estimate) | FY22 (previous estimate) |
| Nomura | 12.6% | 13.5% |
| JP Morgan | 11% | 13% |
| UBS | 10% | 11.5% |
| Citi Research | 12% | 12.5% |
Source: Business Standard