New Delhi: The sharp increase in the case of Coronavirus in India is seen hurting the prospect of economic growth, although it is lighter than the previous wave.
Economists, including those in Citigroup, India Ratings & Research, and ICICI Bank, have reduced their gross domestic product estimation (GDP) after official data on Friday shows the third largest economy in Asia is likely to grow by 9.2% in the fiscal year Until March – in short, which was slower than the 9.5% previously expected by the Bank of India (RBI) reserves, and the International Monetary Fund (IMF).
While the economic impact of the Omicron outbreak in the current quarter can be lower than the previous wave, the activity in the last three months was weak, the Citi Samiran economist Chakraborty and Baqar M Zaidi wrote in the January 9 study report.
They lowered their estimates for the current fiscal of 80 basis points to 9%, and set up next year’s expansion of 8.3%, from 8.7% earlier.
New cases of new Coronavirus in India rose from around 6,500 two weeks ago to more than 170,000 now – the sharpest increase since the start of Pandemi about two years ago.
The result has become a refund of locking in several parts of the country.
“There is a reason to expect the less disturbing Covid waves,” Chakraborty and Zaidi wrote.
“This includes a lower level of hospitalization, a shorter Covid cycle period, higher vaccination coverage, and weakening relationships between Covid and activities.” Others at Bofa Securities and Deutsche Bank AG have maintained their projections for now, when marking the risk of downside with the growth of the beating of the Indian world.
“Some negative impacts on possible activities, but the rebound can also be relatively fast,” economists led by Aastha Gudwani on the boo wrote in a report on January 10.
The risk of decline is growing, but it is too early to measure, they said.
But there is extensive consensus that the impact of this wave will be mild.
The impact is estimated in the current quarter, Radhika Rao from DBS Bank Ltd.
said in an interview with Bloomberg television Monday.
But “the impact of the next waves has been superficial,” he said.