ICRA Report Forecasted Economic Growth for Second Quarter

Investment Information and Credit Rating Agency of India, has estimated the country's GDP growth to accelerate in the current financial year. The report of the agency has increased the growth rate by 7.9 percent in its estimates. The agency has taken this step keeping in view the jump in government spending in the month of September. Earlier, in the first quarter of the current financial year, the growth rate was over 20 percent due to a lower base effect. Whereas the Reserve Bank of India has estimated the growth rate to be 9.5 percent in the financial year 2021-22. The report also states that the economic growth can be better as compared to before in the second quarter.