S&P retains India GDP growth projection for 2021-22 at 9.5%

S&P Global Ratings has retained India’s GDP growth forecast for 2021-22 at 9.5 per cent and 7.8 per cent for 2022-23. However, it revised the GDP growth projection for 2023-24 to six per cent from 5.7 per cent estimated earlier, citing lowering of permanent costs owing to the ongoing broadening out of the recovery. According to S&P, gradual lifting of restrictions has helped the economy to rebound from pandemic lows and all high-frequency indicators suggest a strong recovery is underway.

References
1. https://www.business-standard.com/article/economy-policy/s-p-keeps-india-gdp-growth-forecast-unchanged-at-9-5-in-fy22-121113001274_1.html