Icra cuts its FY22 GDP estimate by 0.5%, sees economy expanding by 10.5%
Image Credit: Economic Times
Domestic rating agency Icra on Tuesday cut its 2021-22 growth estimate by 0.5 per cent on the upper end, as a newer spate of lockdowns and restrictions get imposed in pockets to arrest the rising COVID-19 cases. The agency now expects the economy to grow 10-10.5 per cent in 2021-22, against the 10-11 per cent estimated earlier. The recent surge in COVID-19 cases has resulted in a dip in consumer confidence.