Global rating firm S&P has lowered India’s growth rate estimate for the current financial year (2021-22) from 11 percent to 9.8 percent. The rating agency said that the second wave of Kovid could derail the economic recovery.
Last week, Standard & Poor warned that if such cases continue, the pace of economic activity will slow down and this will have a direct impact on India’s growth rate. He also said that the way the Modi government is increasing the pressure on the fiscal position for economic reform, high growth rate is necessary in the current financial year. He also expressed concern about the rising debt over India.
(Detailed report in a while)
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