InvestorQ : Why has S&P downgraded India’s growth estimates for FY22?
Moii Chavate made post

Why has S&P downgraded India’s growth estimates for FY22?

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Tisha Malhotra answered.
1 month ago
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S&P Global Ratings cut India's GDP growth forecast for FY22 to 9.8% from its original forecast of 11% due to the possible impact of COVID resurgence. According to S&P, this resurgence could derail economic recovery and credit flows.

However, S&P has not offered any comment on the status of India’s current “BBB-“ rating, which is already just 1 notch above speculative. Economists warn that a combination of weak growth, high inflation and mounting fiscal deficit could trigger a downgrade.

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