Goldman Sachs lowers India growth forecast

New Delhi, May 4

Goldman Sachs has lowered its estimate for India’s economic growth to 11.1% in fiscal year to March 31, 2022, as a number of cities and states announced lockdowns to check spread of Covid infections.

“While activity is likely to rebound from Q3 (July-September) onwards — assuming restrictions can ease somewhat over that time frame — the net result is to lower our FY22 GDP growth forecast to 11.1% (from 11.7% previously), and our 2021 calendar year growth forecast to 9.7% (from 10.5%),” it said. — PTI

New Projection

• The Wall Street brokerage has lowered its estimate for India’s economic growth to 11.1% in the current fiscal from 11.7% predicted earlier