India’s GDP to improve by 2022,
Domestic rating agency Icra said on Monday that India’s gross domestic product (GDP) could grow at 10.1 per cent in FY 2022.
- January 11, 2021, 7:06 PM IST
Corona vaccine will also have an effect
The agency’s economist Aditi Nair said in a report, “India’s real GDP could register a growth of 10.1 per cent in FY 2021-22 after a 7.8 per cent decline due to the corona virus epidemic in the current financial year. This growth will also depend on the normalization of economic activity. Apart from this, the beginning of vaccination of Corona will also be seen.
Also read: Government fixed interest rate on RBI bonds, know how much you will get by JuneApart from this, he said, “In real terms, we are expecting India’s GDP to be just above that level in FY 2022, which level is found in FY 2020.”
The agency expects retail inflation to come down from 6.4 per cent in FY 2021 to 4.6 per cent in FY 2022. However, it may remain above the four per cent target given to the Reserve Bank’s Monetary Policy Committee (MPC) for the third consecutive year.
S&P estimated this
Credit rating agency S&P Global Ratings raised India’s economy growth forecast from negative nine per cent to 7.7 per cent in the current financial year. The rating agency has revised its estimates due to rising demand in the economy and a decrease in the Kovid-19 transition rate.
Also read: Now you will not have to wait for the train at the station, check live running status on WhatsApp while sitting at home
What did India ratings predict?
India Ratings has revised the economic growth forecast for FY 2021. India Ratings had earlier projected the economic growth rate to be -11.8 percent. But now it has been increased to -7.8 percent.