Fitch revises India's GDP growth to 12.8% for FY22

Fitch Ratings has revised India's GDP growth estimate to 12.8% for the fiscal year beginning April 1 from its previous estimate of 11%, saying its recovery from the depths of the lockdown-induced recession has been swifter than expected. In its latest Global Economic Outlook, Fitch said revision is on the back of "a stronger carryover effect, a looser fiscal stance and better virus containment."
"India's second half of 2020 rebound also took GDP back above its pre-pandemic level and we have revised up our 2021-2022 forecast to 12.8% from 11%," it said. "Nevertheless, we expect the level of Indian GDP to remain well below our pre-pandemic forecast trajectory."