ICRA forecasts India's GDP to be 9% in the financial year (2022- 2023)

Daily Current Affairs / ICRA forecasts India's GDP to be 9% in the financial year (2022- 2023)

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Category : Business and economics Published on: January 03 2022

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The domestic credit rating agency ICRA Ltd. has projected India's real GDP (GDP) at 9% for fiscal 2022-2023, despite rising Omicron variant of COVID-19 cases in the country.
The Indian economy grew at an 8.4 percent annual rate in the second quarter of the current fiscal year, compared to a 20.1 percent annual rate in the April-June quarter.
In addition, the agency anticipates that the visibility of tax revenue growth will spur faster government spending in 2022.