Barclays, a British brokerage has revised India’s F.Y. 22 Gross Domestic Product (GDP)growth estimate to 9.2 percent by cutting 0.80 percent.
Even the last month has seen a slew similar forecast from analysts, even as the RBI maintained its estimate of a 10.5 percent growth in real GDP. The analysts estimate ranges from 8.5 percent to little above 10 percent.
However, the higher growth has been made possible by a low base of F.Y. 21, where the economy contracted by over 7.5 percent.
“While we continue to believe the lockdown will only until end of June 2021, in our new base case, we now estimate economic losses of USD 74 billion, all of it contained in Q221 (April – June)”, Barclays said in a note.