Business Standard

Ind-ra projects FY22 GDP growth at 9.4%

- INDIVJAL DHASMANA New Delhi, 19 August

India Ratings on Thursday revised its projection­s for economic growth during the current fiscal year (FY22) to 9.4 per cent against its earlier forecast of 9.1-9.6 per cent. Gross domestic product (GDP) would grow 15.3 per cent in Q1, 8.3 per cent in Q2 and 7.8 per cent in each of the remaining two quarters, it said. In June, the rating agency had said that GDP would grow 9.6 per cent if the country is able to vaccinate its entire adult population by December 31 this year and 9.1 per cent if it is not.

“Going by the pace of vaccinatio­n, it is now almost certain that India will not be able to vaccinate its entire adult population by December 31 this year,” said India Ratings’ Chief Economist Devendra Pant.

The agency’s estimate suggests that 5.2 million daily doses would have to be administer­ed from now on to fully vaccinate more than 88 per cent of the adult population and to administer single doses to the rest by March.

Even then, growth is not projected to fall to 9.1 per cent as was expected earlier because there are certain positive developmen­ts in the economy, its principal economist Sunil Kumar Sinha said.

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