S&P Global Ratings has retained the Gross Domestic Product (GDP) growth forecast of India unchanged at 9.5 percent for the financial year 2021-22 (FY22) and 7.8 per cent for the year ending FY23. GDP growth projection of India was revised for FY 24 to 6 per cent from 5.7 percent estimated earlier. Rising inflation is a pressure point, unlike elsewhere in emerging Asia, but external demand continues to support growth, S&P noted.
Important takeaways for all competitive exams:
- S&P Global Ratings Headquarters: New York, New York, United States;
- S&P Global Ratings Founder: Henry Varnum Poor;
- S&P Global Ratings Founded: 1860;
- S&P Global Ratings President: John L. Berisford.