India Ratings has revised downwards its GDP growth forecast for 2021-22 to 8.6 per cent from the consensus 9.2 per cent projected earlier. According to an India rating analysis, National Statistical Organisation (NSO) is likely to peg the FY22 real gross domestic product growth at Rs 147.2 lakh crore. This translates into a GDP growth rate of 8.6 per cent, down from the 9.2 per cent forecast in the first advance estimate released on January 7, 2022.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
What is the major reason for downward revision?
The major reason for the likely downward revision is the upward revision of FY21 GDP to Rs 135.6 lakh crore in the first revised estimate of national income for FY21, which was released on January 31, 2022.
National News Supreme Court Pushes Uniform Benefits for Retired Judges The Supreme Court of India…
India has taken a significant step towards the future of urban transportation with the blessing…
The 23rd edition of Commonwealth Games is slated to take place in Glasgow, Scotland from…
India has granted authorization for its first dengue vaccine to be used, which indicates a…
The Supreme Court has instructed the Central Government to form a committee within two weeks…
The Mukhyamantri Swasth Bastar Abhiyan (Chief Minister's Health Bastar Mission) is showing satisfactory results as…