Indian economy to grow at 11% in FY 22: Crisil
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Last Updated: Mar 09, 2021, 04:17 PM IST
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Synopsis
While exports are recovering well for large industries, and agriculture and allied sectors, they remain weak for labour-intensive, small-enterprise driven segments such as gems and jewellery, garments, and leather products because of their discretionary nature.
The pace of growth will differ in the first and second halves next fiscal.
India s GDP growth is expected to rebound to 11% in FY 22 as people learn to live with the new normal, flattening of the Covid-19 affliction curve, rollout of vaccinations, and investment-focused government spending converge, according to ratings firm
India’s growth in FY22 will be a story of two halves: Crisil
March 09, 2021
Says recovery won’t be easy with scars of the pandemic deep for small businesses
Crisil expects India’s gross domestic product (GDP) growth to rebound to 11 per cent in fiscal 2022 after an estimated 8 per cent contraction this fiscal.
The analytics company sees growth next fiscal (FY22) to be a story of two halves, with base-effect lifting the first half and broad-based growth in the second.
Crisil reasoned that the rebound will happen as four drivers – people learning to live with the new normal, flattening of the Covid-19 affliction curve, rollout of vaccinations, and investment-focussed government spending – converge.
India s GDP to grow 11% in FY22, contract 8% in FY21: CRISIL
Policymakers and regulators have primarily facilitated the economic revival, and India s medium-term growth now hinges on a kickstart of the investment cycle.
BusinessToday.In | March 19, 2021 | Updated 16:01 IST
The rating agency expects GDP growth to average 6.3 per cent between fiscals 2023 and 2025.
Rating agency CRISIL sees India s gross domestic product (GDP) growing 11 per cent in financial year 2021-22 after an estimated 8 per cent contraction in 2020-21.
The pick-up in economy will be based on convergence of four drivers people learning to live with the new normal, flattening of COVID-19 affliction curve, rollout of vaccinations, and investment-focused government spending, it said.