The Swiss brokerage firm, UBS Securities has revised India’s real GDP growth projection for 2021-22 to 9.5 per cent from 8.5 per cent estimated earlier. The upward revision has been attributed to faster-than-expected recovery, rising consumer confidence and the resultant spending spike.
UBS Securities has made the following GDP growth rate projections for India for various years:
For 2021-22 (FY22)= 9.5%
For 2022-23 (FY23)= 7.7%
For 2023-24 (FY24)= 6.0%