has revised up the gross domestic product (GDP) growth rate of India for the financial year 2021-22 (FY22) to 9 percent. Earlier this rate was 8.5%. It can be noted that after the 7.3 percent contraction in 2020-21, there were expectations of a higher growth number in 2021-22.
→ The key risk to its revised projection of 9 percent GDP growth is a potential third wave and the existing vaccines being ineffective against newer mutations of the virus. ICRA is Gurgaon based credit rating agency, owned by Moody’s Corporation.
Important takeaways for all competitive exams:
- ICRA Founded: 16 January 1991;
- ICRA CEO: N. Sivaraman.