Ind Ra revises down India's FY22 GDP growth forecast to 10.1%

 Ind Ra revises down India's FY22 GDP growth forecast to 10.1%

India Ratings and Research on April 23, revised down India’s FY22 real GDP growth forecast to 10.1%, from an earlier projection of 10.4%, citing the second wave of COVID-19 infections and slower pace of vaccination. At a time when large parts of the country are experiencing tremendous pressure on medical infrastructure, the agency said it expects the second wave to start subsiding by mid-May.

Earlier this month, the Reserve Bank maintained its 10.5 percent GDP growth estimate, but Governor Shaktikanta Das has flagged the rising cases as the biggest impediment to recovery.