Citi revise India's GDP forecast to 9%





Citi in a report, downgraded the Indian economy forecast for third quarter of F22 to 9% from a earlier estimate of 9.8% due to COVID uncertainty and slowing economic momentum. Citi has also revised the earlier estimate of FY23 GDP growth of 8.7% to 8.3%.


Although the third wave of COVID has started in India, Citi is hopeful that it would have a less disruption effect on the economic activity, owing to lower hospitalization rate, high vaccination coverage and shorter COVID cycle period.


Source: CITI NEWS | PRESS RELEASE FROM CITI

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