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. The National Statistical Organisation (NSO), which has forecast 9.2 per cent real GDP growth for the year, will release the second advance estimate of national income on Monday. According to an India … Read more
Citing faster-than-expected recovery, rising consumer confidence and the resultant spending spike, Swiss brokerage UBS Securities has revised upwards its growth forecast for the current fiscal to 9.5 per cent from 8.9 per cent in September. The brokerage also sees the economy clipping at 7.7 per cent in FY23 but moderating to 6 per cent in … Read more
Fitch Ratings has cut India’s economic growth forecast to 8.7 per cent for the current fiscal but raised GDP growth projection for FY23 to 10 per cent, saying the second COVID-19 wave delayed rather than derail the economic recovery. In its APAC Sovereign Credit Overview, Fitch Ratings said India’s ‘BBB-/Negative’ sovereign rating “balances a still-strong … Read more
Blaming the slow pace of vaccinations and uncertainty around the number of those infected and dead in the second COVID-19 wave, global brokerage firm Barclays cut India’s FY22 GDP growth estimate to 10 per cent from earlier 11 per cent. If the ongoing localised lockdowns continue till June, it will lead to economic losses of … Read more
While rating agencies ICRA and CARE Ratings have lowered their expectations further, others such as HDFC Bank and State Bank of India Research are in the process of revising their estimates. ICRA changed its 5% contraction estimate to 9.5% and CARE to 6.4% from 1.3% shrinkage earlier. Source link