‘Growth may drop by 40 bps on Omicron’
The Hindu
With Omicron variant of coronavirus fast spreading in the country, ICRA Limited. expects that India’s GDP growth for Q4 FY22 would be 40 basis points (bps) below its earlier projection of 5 and 5.5%.
With Omicron variant of coronavirus fast spreading in the country, ICRA Limited. expects that India’s GDP growth for Q4 FY22 would be 40 basis points (bps) below its earlier projection of 5 and 5.5%. “Now it is expected to be sub 5% for the quarter,” Aditi Nayar, chief economist, ICRA Ltd. said.
With this, there would be a modest downside of 10 basis points (bps) from its earlier projections of 9% in the GDP forecast of FY2022.
The RBI in December had retained its real GDP growth projection at 9.5% for FY22 with 6.6% in Q3 and 6% in Q4 of FY22.
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