GDP to grow at 11% in FY22, says Crisil Â
Context: Crisil said it expects the Indian economy to grow at 11% in fiscal 2022, after an estimated 8% contraction this fiscal due to the pandemic.
Details:
The growth will be driven by four factors:
- people learning to live with the new normal,
- flattening of the COVID-19 affliction curve,
- roll-out of vaccines, and
- investment-focused government spending.
CRISIL:
- CRISIL (formerly Credit Rating Information Services of India Limited) is an Indian analytical company providing ratings, research, and risk and policy advisory services and is a subsidiary of American company S&P Global.
- CRISIL, was the first credit rating agency in India, introduced in 1988 by the ICICI and UTI jointly with share capital coming from SBI, LIC and United India Insurance Company.
- In April 2005, US based credit rating agency S&P acquired the majority shares of the company.
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