Domestic rating agency ICRA Ratings expects the real gross domestic product (GDP) of India to grow by 10.1% in the financial year 2021-22 (FY2022). The rating agency ICRA had earlier projected a contraction of 7.8% for the ongoing fiscal 2020-21. The seemingly-sharp expansion will be led by the continued normalisation in economic activities as the rollout of Covid-19 vaccines gathers traction and the low base.
Important takeaways for all competitive exams:
- ICRA Headquarters: Gurgaon, Haryana.
- ICRA Non-Executive Chairman and Director: Arun Duggal.