GDP advance estimates may be cut to 8.6%, says India Ratings

India Ratings said that according to the revised estimates, the GDP growth in FY20 now stands at 3.7 per cent compared to 4 per cent earlier.

The National Statistical Office’s (NSO’s) second advance estimates for FY22, due on February 28, may peg the current fiscal year’s real gross domestic product (real GDP) growth at 8.6 per cent, compared with 9.2 per cent projected in the first advance estimates, India Ratings said on Wednesday.

The reason for this likely downward revision, according to the ratings agency, is the recent upward revision in FY21 GDP contraction, to negative 6.6 per cent from negative 7.3 per cent.

“India Ratings’ estimate suggests that the second advance estimates may peg the FY22 real GDP growth at Rs 147.2 trillion. 

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