Economists cut GDP growth forecast – Times of India

New Delhi: The rapid spread of the Omron version has prompted economists to downgrade GDP growth projections and a slew of agencies now project growth for the current fiscal year below double-digit expansion estimates earlier.
“Restrictions in various forms have already started in many states, affecting economic activity,” said Sunil Sinha, principal economist and director of public finance, India Ratings and Research. “Ind-Ra’s estimate suggests that GDP growth in Q4FY22 will now come in at 5.7% yoy, which is 40 basis points lower than the agency’s earlier estimate of 6.1%. For the full FY22, gross The domestic product is expected to see a growth rate of 9.3% annually, 10bps lower than our earlier estimate of 9.4%.”
Brickworks Ratings has also slashed its GDP growth forecast for 2021-22. M Govinda Rao, Chief Economic Adviser, Brickwork Ratings, said, “For the full fiscal, we revise our GDP forecast for the current fiscal to 8.5-9%, as against the earlier estimate of 10%. ”