Acuite Ratings retains FY22 GDP growth forecast at 10%

Acuite Ratings & Research has retained its projection for India’s GDP growth at 10 per cent for 2021-22 in view of the expectation of a further ramp up in private consumption demand, continuing export momentum and the continuing fiscal and monetary support. India witnessed healthy progress on its path to economic revival in October 2021 led by significant tapering in Covid infections, near-complete removal of lockdown restrictions, pick-up in the pace of vaccination, along with festive season augmenting pent-up demand, it noted. However, Acuite cautioned that global supply chain disruptions, raw material shortages, along with elevated commodity prices may pose risks to growth.