The International Monetary Fund (IMF) retained India's growth projection at 9.5 per cent for 2021, after it downgraded the growth rate by three percentage pointsfrom 12.5 per cent in July, following the severe second wave of COVID-19 pandemic in the country.
Fitch says it has further lowered India's GDP forecast for the fiscal year ending March 2022 (FY22) to 8.7 per cent from 10 per cent in June as a result of the severe second virus wave.