ICRA upgrades growth hopes to 9% for 2021-22
The Hindu
A potential third wave, and whether the existing vaccines are able to protect against any new variants that might emerge, remain key risks, ICRA chief economist Aditi Nayar said
Rating agency ICRA has bumped up its GDP growth forecast for 2021-22 to 9% from 8.5%, citing better prospects for the second half of the year due to a ramp-up in COVID-19 vaccination and healthy kharif crop estimates.
A potential third wave, and whether the existing vaccines are able to protect against any new variants that might emerge, remain key risks, ICRA chief economist Aditi Nayar said.
ICRA expects higher government spending to boost growth in the second half of the year, in contrast to the situation in the first quarter when government consumption expenditure had trailed last year’s levels.
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