Question: What is the GDP growth rate estimated by S&P Global Ratings for India for the financial year 2021-22?
(a) 9.5 per cent
(b) 10.5 per cent
(c) 10.2 per cent
(d) 11.5 per cent
Answer: (a)
Related facts:
- S&P Global Ratings has slashed India’s growth forecast for FY 2021-22 to 9.5 per cent.
- Earlier, it has estimated India’s GDP growth rate to 11 per cent.
- The agency has also projected India’s growth at 7.8 per cent in the FY 2022-23.
- The agency lowered the growth outlook saying that a severe second COVID-19 outbreak in April and May led to lockdowns imposed by states and a sharp contraction in economic activity.