Nomura revises India's FY22 growth to 12.6% from 13.5%

Current GK ( Master) Growth and development

Global brokerage Nomura lowered its growth expectations for India to 12.6% in the new fiscal year from 13.5% earlier.
The revision reflected the pandemic drag on the economy and marginally lower retail inflation.
In a previous report at the beginning of the month, Nomura had warned that the economy’s growth could fall to 12.2% if the second wave of Covid-19 worsened.
Nomura has pegged the calendar year GDP growth of India as given below:

2020 – (-)6.9%
2021 – 11.5%
2022 – 7.0%