ICRA Slashes India’s GDP Forecast by 0.5% to 10.5% in FY22

The domestic rating agency ICRA has cut the growth estimate of India for 2021-22 by 0.5 per cent on the upper end and now expects the economy to grow 10-10.5 per cent in 2021-22 as against 10-11 per cent estimated earlier. The downward revision in the forecast follows the lockdowns and restrictions which are getting imposed once again due to rising COVID-19 cases.

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