Analysts lower India's GDP projections for FY22

Global brokerage company Nomura has cut India's GDP forecast to 12.6 per cent from 13.5 per cent projected earlier as the country faces a consistent rise in coronavirus cases and higher inflation.

JP Morgan now projects India's GDP to grow at 11 per cent from 13 per cent earlier.

UBS sees 10 per cent GDP growth for India, down from 11.5 per cent earlier.

ICRA downgraded India's GDP growth projection for FY22 to the range of 10-10.5 per cent from earlier projections of 10-11 per cent.  

India Ratings also downgrade its GDP projections for India to 10 per cent from 10.4 per cent earlier due to the current pandemic situation.

The economic research wing of State Bank of India has cut its real GDP growth forecast for India to 10.4 per cent from 11 per cent for the financial year ending March 2022 (FY22).

• Shivani Sharma
• Design by Pragati Srivastava