JP Morgan, UBS and Citi Research downgrades India’s GDP forecasts for FY22

Current GK ( Master) Growth and development

With the resurgence of COVID-19 cases posing risks to economic recovery, the leading brokerages have downgraded India’s GDP growth projections for the current fiscal year 2021-22. Current fiscal year to as low as 10 per cent on local lockdowns threatening fragile recovery.
JP Morgan now projects GDP growth at 11 per cent from 13 per cent earlier.
UBS sees 10 per cent GDP growth, down from 11.5 per cent earlier and
Citi has downgraded growth to 12 per cent.