Icra forecasts India's real GDP to expand by 10.1% in FY22
by Nidhi Bhati
India’s real GDP is projected to record a growth of 10.1 per cent in 2021-22, according to Icra Ratings. The seemingly-sharp expansion will be led by the continued normalisation in economic activities as the rollout of Covid-19 vaccines gathers traction and the low base, it said. Icra’s Principal Economist Aditi Nayar expects a multi-speed recovery in the next fiscal, with the contact-intensive sectors, discretionary consumption and investment by the private sector trailing the rest of the economy. The agency further said that the headline CPI inflation is expected to decline to 4.6 per cent in 2021-22 from 6.4 per cent in 2020-21. It also forecasts that the central bank will maintain an extended pause for the repo rate.
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