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| Indian economy to grow 11% in fiscal 2022, study shows | Indian economy to grow 11% in fiscal 2022, study shows |
| (about 1 month later) | |
| A new report by ratings firm CRISIL said India’s GDP growth is expected to rebound to 11 percent next fiscal year, as the rollout of Covid vaccinations and “investment-focused government spending converge.” | A new report by ratings firm CRISIL said India’s GDP growth is expected to rebound to 11 percent next fiscal year, as the rollout of Covid vaccinations and “investment-focused government spending converge.” |
| The second half of FY22 is projected to see a more broad-based pick-up in economic activity, due to a commodity price lift, large-scale vaccinations, and likely stronger global growth, said the ratings firm. | The second half of FY22 is projected to see a more broad-based pick-up in economic activity, due to a commodity price lift, large-scale vaccinations, and likely stronger global growth, said the ratings firm. |
| “Policymakers and regulators have primarily facilitated the revival. India’s medium-term growth now hinges on a kickstart of the investment cycle,” said CRISIL’s managing director and CEO Ashu Suyash. | “Policymakers and regulators have primarily facilitated the revival. India’s medium-term growth now hinges on a kickstart of the investment cycle,” said CRISIL’s managing director and CEO Ashu Suyash. |
| “There are early positive signs, powered by government spending, such as through the National Infrastructure Pipeline, demand-driven capex, and the Centre’s Production-Linked Incentive (PLI) scheme.” | “There are early positive signs, powered by government spending, such as through the National Infrastructure Pipeline, demand-driven capex, and the Centre’s Production-Linked Incentive (PLI) scheme.” |
| According to the report, trade has normalized faster than the rest of the economy, with both exports and imports scaling pre-pandemic levels. | According to the report, trade has normalized faster than the rest of the economy, with both exports and imports scaling pre-pandemic levels. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |