Covid-19 second wave poses downside risks to India's FY22 GDP: S&P

by Nidhi Bhati

S&P Global Ratings has indicated growing downside risks to its 11 per cent forecast for India’s GDP growth during 2021-22 amid the escalating second wave of Covid-19 infections. The global rating agency believes that a drawn-out Covid-19 outbreak will impede India’s economic recovery and also poses a significant contagion risk to other geographies. This may have further implications on the the country’s sovereign credit rating, it added.