Credit rating agency Kristil raised the country’s economic growth forecast for the current fiscal year 2021-22 to 8.2 percent on Monday as against 11 percent earlier. The agency has said that if the second wave of corona infection subsides after the end of June, India’s economic growth could be 8.2 percent in the year 2021-22.
He clarified that given the current situation, India’s predicted 11 percent economic growth rate may be at risk of a decline. If the second wave of Corona infection lasts till the end of May, the economic growth could be 9.8 percent. If the wave continues till July, then the growth rate is estimated to be 8.2 percent. ”
According to official estimates, the economy had shrunk 7.6 percent due to a nationwide lockdown in FY 2020-21. After the outbreak of the second wave of corona infection, there is a risk of a decrease in the growth rate.
The agency said that the biggest challenge facing the country is the spread and vaccination of corona infection. The second wave of the epidemic spread globally on a very large scale, but the death rate has been recorded in India as the infection rate has increased.
He said that India is far below the total vaccinated population. It would be good if half of the country’s population gets corona vaccine by October. The rating agency, however, maintained a 15 per cent revenue growth.