India on track of economic recovery, says S&P, projecting 10% growth in FY22 | Editorji
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India on track of economic recovery, says S&P, projecting 10% growth in FY22

Feb 16, 2021 14:42 IST

India is on track to recover from a pandemic-led economic contraction and is likely to grow 10% in the financial year 2022, S&P Global Ratings said in a forecast on Tuesday. This is slightly lower than the 11% growth projected by the Economic Survey for FY22. The projected rebound in FY22, however, comes on a lower base, with the Indian economy estimated to contract 7.7% this fiscal. For the recovery in growth in the next fiscal, S&P relied on consistently good agriculture performance, flattening of the Covid-19 infection curve, and a pickup in government spending.

Economy