Economic recovery is yet to attain durability, says ICRA
The Hindu
‘Early data for Jan. is weak following reimposition of curbs to check third wave’
Rating agency Icra said while there was some evidence of the economic recovery becoming broad-based in the third quarter of fiscal 2022, it was yet to attain the durability being sought by the Monetary Policy Committee as a precursor to policy transmission.
The agency expects real GDP to expand 6-6.5% year-on-year in the third quarter (8.4% in Q2 FY2022). It also sees the RBI maintaining the status quo in the upcoming monetary policy review to be held in February.
Chief Economist Aditi Nayar said economic activity rebounded in December, even as many sectors continued to trail the performance recorded in October.
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India's services sector growth slows in January, but remains above 50; new export business rebounds, job creation accelerates.