Global forecasting firm Oxford Economics on Wednesday revised India’s economic growth projection for 2021 to 10.2 per cent from the earlier 8.8 per cent, citing receding Covid-19 risks and the shift in the monetary policy outlook.
It further said the Budget 2021-22 will create positive externalities for the private sector, and forecast slower fiscal consolidation in FY22 than the government projections.
“Alongside the planned government spending boost in Q1 and receding Covid-19 risks, the shift in the monetary policy outlook supports our 2021 growth upgrade to
10.2 per cent from 8.8 per cent earlier,” Oxford Economics said.