Recently Credit Suisse published a detailed report on the Indian economy with a 10.5% growth forecast for 2021–22 fiscal. Where India would register a positive 9 percent growth for the next fiscal year.
But as per the report, there may not be a huge rally of markets.India’s economy is likely to Grow 9% in the next fiscal as per Credit Suisse, an international financial services giant predicts about India’s economy.
For the current fiscal year (2021–22) ending this March, with the total growth rate that is expected to be around 10.5 per cent. But it is noteworthy that the Credit Suisse analysis clearly differs from the various views and current expectations from the Indian economy.
Credit Suisse’s report forecasts that growth will be in the range of about 8.4–9.5 per cent. Recently RBI also forecasted a positive 9.5 per cent growth in 2021–22, compared to the 8.4 per cent in the case of international rating giant Fitch.
Another Financial services giant Swiss Bro Courage giant has forecast a positive growth rate of 9% for the next fiscal year. As of now, Credit Suisse Asia Pacific, India Equity Strategist Neela Kant Mishra Analyzes the key highlights of the report:
– The economy will continue to stay on a path of positive recovery. This recovery is also likely to constantly continue in lower-income jobs over the period of the next three to six months.
– Currently, energy and raw material prices are the major challenges faced by the Indian economy. Also, growth is predicted to get slow if the international crude oil, gas, coal, fertiliser, and palm oil prices continue to surge.
– Another major concern is the low employment creation in some big sectors such as education, transport, construction, and auto. Since the respective sectors have not yet reached their pre-covid levels. However, as the economy starts to fully open up, these sectors will be able to move forward and restore to their pre-covid levels.