HSBC revises India's GDP forecast upwards to 11.2% for FY22

by Nidhi Bhati

HSBC expects almost all economies in Asia to reach their pre-pandemic level by the end of 2021. A pick up in business activity coupled with a steady fall in Covid cases will aid a faster economic recovery across Asia, it stated. As regards India, HSBC has revised upwards the country’s GDP forecast for 2021-22 to 11.2 per cent from 9.2 per cent. The research and brokerage house has lowered the consumer price inflation (CPI) forecast for 2021 to 4.9 per cent and to 4.7 per cent for 2022, despite rising crude oil and auto fuel prices.