Goldman Sachs lowers GDP growth forecast for India in FY22 to 11.1% amid lockdowns

Current GK ( Master) Growth and development

Wall Street brokerage Goldman Sachs has cut the GDP growth rate estimate for Indian economy to 11.1 percent in fiscal year FY22 (April 01, 2021 to March 31, 2022), due to increasing intensities of lockdowns by states to check spread of coronavirus infections.
Goldman Sachs has also revised the 2021 Calendar Year growth forecast to 9.7 percent, from previous estimate of 10.5 percent.