On March 09,2021, The report of the rating agency CRISIL (Credit Rating Information Services of India Limited) projected India’s GDP to rebound to 11% in FY22(2021-2022) with base-effect lift in first half and broad-based growth in the second, after an estimated contraction of 8%(- 8%) inFY21(2020-2021).
CRICIL’s GDP prediction in FY22:
- It expects GDP’s average growth to 6.3% between fiscals 2023 and 2025 which is lower than the average growth of 6.7% which is seen in the decade preceding the pandemic, but higher than the 5.8% average in the three prior fiscals.
- Despite the growth and recovery after the pandemic, the Indian economy will have a permanent loss of 11% of GDP in real terms over fiscals 2022-2025.
- In real times the size of the economy in FY22 will be 2% bigger than FY21.
- Corporate revenue growth has V-shaped recovery in the first nine months of FY21 by resilience in exports of information technology services and pharmaceuticals.
- In FY22 revenue will grow 15-16 per cent, through higher investment by the government in core infrastructure segments like roads, railways, and urban infrastructure.
CRISIL is an Indian analytical company providing ratings, research, and risk and policy advisory services
Managing Director (MD) & Chief Executive Officer(CEO)– Ashu Suyash
Headquarter– Mumbai, Maharashtra
Parent Company– Standard & Poor’s (S&P)