S&P Global Ratings cuts India’s FY22 growth forecast to 9.5%

Standards and Poor's

S&P Global Ratings on Thursday cut India’s growth forecast for the current fiscal to 9.5 percent, from 11 percent earlier, and warned of risk to the outlook from further waves of COVID pandemic.

The agency lowered the growth outlook saying that a severe second COVID-19 outbreak in April and May led to lockdowns imposed by states and sharp contraction in economic activity. “We forecast growth of 9.5 percent this fiscal year from our March forecast of 11 percent,” S&P said.

News Source:- Moneycontrol

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