The second wave of Covid-19 has dampened economic optimism for India ...Middle East

Quartz - Economy
The second wave of Covid-19 has dampened economic optimism for India
source : Quartz ( Middle East ) () 15
The second wave of Covid-19 has made economists less hopeful about India’s growth prospects.At least four leading rating agencies have trimmed their GDP growth forecasts for India for the financial year ending March 2022. These agencies had initially estimated double-digit growth for the Indian economy due to a low base and revival of business activities in the country after the first wave of Covid in 2020.For instance, Mumbai-based CRISIL, which had earlier pegged India’s economic growth for fiscal 2022 at 11%, has lowered its estimate to 8.2% in a worst-case scenario.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

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