Due to lockdowns under COVID-19, Nomura revised India’s GDP growth forecast on May 11, 2021, for the FY22 fiscal to 10.8 percent from 12.6 percent following a contraction of 7.6 percent in FY21.
- It stated the further decline in the activity levels of India to 64.5% of the pre-pandemic levels.
About CRISIL’s forecast on India’s Growth:
CRISIL (Credit Rating Information Services of India Limited) has estimated India’s growth estimation for FY22 to be 11 percent with a “risk firmly tilted downwards” under 2 Scenarios i.e. it estimated around 9.8 percent growth in May-end and 8.2 percent in June-end.
- It has retained the revenue growth estimate for India at 15 percent for FY22.
- Projected the CPI inflation to cool down to 5 percent in FY22.
Recent Related News:
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).
Establishment – 1925
President & Group CEO– Kentaro Okuda
Headquarter– Tokyo, Japan
About CRISIL (Credit Rating Information Services of India Limited):
CRISIL is an Indian analytical company providing ratings, research, and risk and policy advisory services
Estabishment – 1987
MD & CEO – Ashu Suyash
Headquarters – Mumbai, Maharashtra
Parent Company – Standard & Poor’s (S&P) company