Crisil retains growth numbers despite new Covid variant

Rating agency Crisil has retained its projection for India’s real GDP growth for 2021-22 at 9.5 per cent, as per a report in Economic Times. For 2022-23, the rating agency has forecast a GDP growth of 7.8 per cent. However, its managing director (MD) & chief executive officer (CEO) Amish Mehta is of the view that the March 2022 quarter will have an adverse impact due to surge in Omicron variant of Covid-19 and a high base effect. However, an early peak may limit the impact, he added. Mehta expects the services sector to pick up decisively, leading to broadbased growth.