India GDP Outlook - Baseline Real GDP Expansion Forecast At 8.5% For FY22: ICRA
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ICRA Research Report
The impact of the second wave of Covid-19 and the ensuing state-wise restrictions has been seen across a wide variety of high frequency indicators in April-May 2021.
Now that the fresh cases have moderated, and restrictions are being eased, we have revisited our gross domestic product growth forecasts, based on what we perceive as some enduring trends that will shape the outlook for rural and urban consumption, investment, government spending and exports in the coming months.
Our baseline expectation is that in real terms, gross value added at basic prices will rise by 7.3%, and that GDP will expand by 8.5% in FY2022.
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