MUMBAI : With phased unlocking under way, GDP growth projected at 8.5% in FY22: ICRAWith decline in number of fresh Covid-19 cases and easing of restrictions, the country's gross domestic product (GDP) will grow at 8.5% in FY2021-22, according to credit rating agency Icra Ratings.It expects the gross value added (GVA) at basic prices (at constant 2011-12 prices) to grow at 7.3% in FY2022."The impact of the second wave of Covid-19 and the ensuing state-wise restrictions was seen across a variety of high frequency indicators in April-May 2021.
Now that the fresh cases have moderated, and restrictions are being eased, we have placed our baseline GDP growth forecast for FY2022 at 8.5%," ICRA chief economist Aditi Nayar said.Icra said if vaccine.