Note– The full recovery will be visible in FY23.
Highlights of the Projection:
Govt & Private Final Consumption Expenditure:
The government final consumption expenditure is expected to grow at 10.1% in FY22, while private final consumption expenditure is expected to grow at 11.2% in FY22
Agricultural GVA:
The agricultural Gross Value Added(GVA) to grow at 3.0% in FY22. This estimate is made on the expectation that there will be a normal and well-distributed rainfall in 2021.
Other Projection in FY 22:
Industrial sector- 11.5%
Service sector- 11.4%
Retail Inflation- 4.3%
Wholesale inflation- 2.8%
Recent Related News:
On January 13, 2021, CARE Ratings downgraded its projection of the Centre’s fiscal deficit to 7.8% of GDP (Gross Domestic Product) during FY21 against its earlier estimate of 9-9.5%. As per this the Fiscal deficit is likely to be around Rs 15.3 lakh crores.
About India Ratings and Research(Ind-Ra):
It is a 100% owned subsidiary of the Fitch Group.
HeadQuarters– Mumbai, Maharashtra
CEO & MD– Rohit Karan Sawhney