ICRA revises India’s GDP growth to 9.00% in FY22

ICRA revises India’s GDP growth to 9.00% in FY22

ICRA have modified Gross domestic product (GDP) India’s growth rate for the financial year 2021-22 (FY 22) To 9 percent. Earlier this rate was 8.5%. It may be noted that after a contraction of 7.3 per cent in 2020-21, higher growth numbers were expected in 2021-22.

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The major risk to its revised estimate of 9 percent GDP growth is a possible third wave and existing vaccines being ineffective against new mutations of the virus. ICRA is a Gurgaon-based credit rating agency owned by Moody’s Corporation.

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