Rating agency CRISIL made it clear that given the current state of corona infection, India’s estimated 11 percent economic growth rate may be at risk of declining. At the same time, if the second wave of corona infection remains till the end of May 2021, then the economic growth can be 9.8 percent.
New Delhi. Global credit rating agency CRISIL (CRISIL) has slashed India’s economic growth rate from its previous estimate for the financial year 2021-22. Crisil has now predicted the country’s economic growth rate to be limited to 8.2 percent. The rating agency has said that if the second wave of coronavirus subsides after the end of June 2021, India’s economic growth in the financial year 2021-22 could be 8.2 per cent. Let us tell you that earlier Crisil had predicted 11 percent economic growth. If the second wave is longer then economic growth may decrease
Crisil made it clear that given the current situation, there may be a risk of India’s projected 11 percent economic growth slowing down. If the second wave of corona infection remains till the end of May 2021, then the economic growth could be 9.8 percent. If the second wave continues till July 2021, then the growth rate is expected to be 8.2 percent. According to official estimates, in the fiscal year 2020-21, the Indian economy declined by 7.6 percent due to the nationwide lockdown. After the second wave of corona, there is a risk of the growth rate decreasing.
Rating agency has maintained revenue growth of 15%
The rating agency said that the biggest challenge before the country is rapid spread of corona infection and low speed of vaccination. The second wave of epidemic spread to a much larger level globally, but with the increase in infection rate in India, the death rate has been recorded. The agency said that India is very low in terms of population doing Corona Vaccination. It would be good if half of the country’s population gets vaccinated by Corona by October. However, the rating agency has maintained an estimate of 15% revenue growth.
