Business
S&P keeps its growth forecast unchanged at 9.5% for 2021-22
S&P Global Ratings has kept India’s economic growth forecast unchanged at 9.5% for the current financial year (2021-22).
Economic contraction of 7.3% between 2020-21, mainly affected by the Coronavirus pandemic causing economic disruptions. Although the gradual lifting of restrictions later helped the economy grow to some extent.
S&P Global Ratings said in its report: “India is learning to live with the virus.
Rising inflation is a pressure point, unlike elsewhere in emerging Asia. But external demand continues to support growth, it added.
“We keep our growth forecast unchanged at 9.5% for the financial year ending March 2022 and 7.8% for the year ending March 2023,” it said.