India Ratings pegs FY22 GDP growth at 8.6 per cent on data revision

India Ratings has revised its GDP growth prediction for 2021-22 downward to 8.6 per cent from the previously projected 9.2 per cent. The Na­tional Statistical Organisation (NSO), which has forecast real GDP growth of 9.2 per cent for the year, will release its second advance estimate of national income. According to India Ratings, the NSO is likely to forecast real GDP growth of Rs 147 trillion for financial year 2022. This equates to an 8.6 per cent GDP growth rate, down from the 9.2 per cent anticipated in the first advance estimate given on January 7, 2022. The primary reason for the expected downward revision is the upward revision of GDP to Rs 135.6 trillion in the January 31, 2022 release of the first revised estimate of national revenue for financial year 2021.