Second Covid Wave Poses Downside Risks to India's Economic Growth: S&P
3 years, 7 months ago

Second Covid Wave Poses Downside Risks to India's Economic Growth: S&P

News 18  

S&P Global Ratings on Wednesday said the second wave of Covid infections poses downside risks to India’s GDP and heightens the possibility of business disruptions. Last week another global rating agency Fitch had projected India’s economic growth in current fiscal at 12.8 per cent, while Moody’s Investors Service had earlier this month said that the second wave of Covid infections presents a risk to India’s growth forecast, but a double digit GDP growth is likely in 2021 given the low level of activity last year. In addition to the substantial loss of life and significant humanitarian concerns, S&P Global Ratings believes the outbreak poses downside risks to GDP and heightens the possibility of business disruptions,” it said. “Strong economic growth will be critical to sustain the government’s aggressive fiscal stance put forth within India’s latest national budget, and to stabilize its high debt stock relative to GDP.

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