ECONOMY

GDP Growth Now To Be 9.2% In FY22 – Fiscal Pressures To Mount: CARE Ratings

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CARE Ratings Research Report

On April 21, we had projected gross domestic product growth to be 10.2% for FY22 on the assumption that the lockdowns would be rolled back in June.

This was premised on the daily infection caseload declining in the month of May.

However, while there have been some swings in the last few days, the daily cases have not gone below the 350,000 mark. The seven days moving average is still at around 390,000 as of May 10.

The concern now is that the infections are spreading to the interiors too in most states which also means that agriculture, which was isolated from the first wave, can be affected this time though there is not a perceptible impact presently.

The spread of infection has also affected workers in various businesses in this round which is directly affecting companies.

Click on the attachment to read the full report:

CARE Ratings GDP Forecast for FY22 May.pdf

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