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    Citigroup will lower India’s GDP forecast for 2010 by 80 bps to 9%.

    According to the report, India’s real gross domestic product (GDP) growth rate for fiscal year 2021-22 (2010) is 80 basis points due to the slowdown in growth momentum in the December quarter and new risks from the 3rd COVID-19 wave. Points (bps) may decrease. Citigroup, said India’s Chief Economist Samilan Chakraborti, said there is reason to look forward to the relatively less disruptive wave of COVID in terms of overall activity.

    “These {reasons]include lower hospitalization rates (currently seen in cities such as Mumbai and experience in South Africa), shortened COVID wave cycles (40 days from valley to peak of daily cases in SA). )It is included. [South Africa](Compared to 90-100 days of the previous wave), higher vaccination rates (second dose of 70% of Indian adults), and a weak link between COVID and activity, “Chakraborty said in a study note. Said.

    Citigroup has also revised its real GDP forecast for FY2011 from a previous 8.7% to a year-on-year estimate of 8.3%.

    India’s real GDP growth could drop 80 basis points to 9% in 2010, according to Citigroup, due to slower growth momentum in the December quarter and new risks from the 3rd COVID-19 wave. , Said Citigroup. From the perspective of overall activity, we expect COVID waves to be relatively less confusing.

    Fiber2Fashion News Desk (DS)

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    Citigroup will lower India’s GDP forecast for 2010 by 80 bps to 9%.

    Source link Citigroup will lower India’s GDP forecast for 2010 by 80 bps to 9%.

    The post Citigroup will lower India’s GDP forecast for 2010 by 80 bps to 9%. appeared first on Eminetra.

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