Experts retain GDP growth rate for FY22 at 9.3%

Mumbai, Feb 01 Given sharper-than-expected recovery in economic activity, experts have revised up their FY21 GDP growth estimate to (-)7.5% and retain FY2022 growth estimate at 9.3% factoring in gradual normalization in services

"We currently retaining our FY22 GDP growth estimate at 9.3% and would remain watchful of any setbacks to growth that may arise from weakness in global demand, slower-than-expected rollout of vaccine, and pace of economic activity," a Kotak report said.

Heading into FY22, it expects manufacturing growth to continue to support the economic recovery over 1HCY21 before plateauing.

The services sector should see faster normalization in 2HFY22 provided a sizeable portion of the vulnerable population is covered by 2QFY22.