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Indian Economy - FY22 GDP Growth Forecast Revised To 9.0%, Led By Vaccine Ramp Up, Government Spending: ICRA

Indian Economy - FY22 GDP Growth Forecast Revised To 9.0%, Led By Vaccine Ramp Up, Government Spending: ICRA

<div class="paragraphs"><p>Members of the public wait in line to register for the Covid-19 Covishield vaccine at a vaccination camp in New Delhi. (Photographer: T. Narayan/Bloomberg)</p></div>
Members of the public wait in line to register for the Covid-19 Covishield vaccine at a vaccination camp in New Delhi. (Photographer: T. Narayan/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICRA Research Report

We have revised FY22 real gross domestic product forecast to 9.0% from 8.5%, citing the brightening prospects for H2 FY22, benefitting from the rapid ramp-up in Covid-19 vaccine administration, healthy advance estimates of kharif output and withdrawal of expenditure management measures related to the Government of India’s spending.

The widening coverage of Covid-19 vaccines is likely to boost confidence, which will in turn re-energise demand for contact-intensive services, helping to revive the portions of the economy affected most by the pandemic.

Moreover, the robust kharif harvest is likely to sustain the consumption demand from the farm sector.

Click on the attachment to read the full report:

ICRA Macro Update September 2021.pdf

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