FY 2022 GDP expected to grow 11-11.2%: CARE Ratings

25 Mar 2021 CW Staff

GDP growth in FY22 is expected to be high due to two factors:

The first is the low base effect of negative growth in FY21. This is significant because while the base effect provides a boost to the GDP numbers, it is not that impressive when compared with FY20.

The second is due to the recovery which has taken place in the economy following the lockdown that was followed by the unlock process which has opened all sectors.

Recovery is broad-based across sectors but at varying speeds, as the services sector in particular still operates with significant restrictions which look unlikely to be fully eased through the first half of FY22. The recovery in the economy will also be aided by the vaccination drive which has been witnessed in the country and the sustained pace of vaccination and coverage of more age-groups is required to speed up the process.

Although the recent surge in Covid-19 cases in the country has raised the possibility of potential restrictions that are in place in several business centres, they are expected to be less potent than those in FY21.

Based on perspectives of various sectors that CARE Ratings covers separately, the GVA and GDP forecasts presented here are based on their inclusions in these calculations. The forecasts have used the CSO estimate for FY21 which is -8.0% as the base for estimation purposes. CARE Ratings’ forecast for FY21 still stands at -7.8%. However, this exercise uses CSO as the base to be aligned with the official estimate. It is believed that the final forecast may not change very significantly and would vary by not more than 0.2 - 0.3%.

Read the full CARE Ratings report here.

Infrastructure Transport

10 Jul 2026

Uttar Pradesh unveils infrastructure-led growth roadmap at RAHSTA

Mumbai, 9 July 2026: Uttar Pradesh’s ambitious infrastructure-led growth strategy took centre stage on Day 2 of the 16th RAHSTA Expo, where senior government officials outlined how expressways, industrial corridors and technology-driven governance are transforming the state into one of India's most attractive investment destinations.Delivering the keynote address, Srihari Pratap Shahi, IAS, Additional Chief Executive Officer, Uttar Pradesh Expressways Industrial Development Authority (UPEIDA), highlighted the state's long-term vision of integrating world-class expressways with industrial dev..

NCW closes PRIME Offices Fund at Rs 40 billion

Nuvama and Cushman & Wakefield Management (NCW) has announced the final close of its flagship PRIME Offices Fund at approximately Rs 40 billion, exceeding its original target of Rs 30 billion following strong investor demand.The fund was launched to provide Indian investors with access to institutional-grade commercial office assets across key office markets in the country. According to NCW, the increase in the fund size was supported by strong investor participation and the availability of investment opportunities in India's office sector.The fund has already committed around 45 per cent ..

Mayfair Housing adopts Autodesk Forma for digital project planning

Mayfair Housing has entered into a three-year strategic partnership with Autodesk to deploy Autodesk Forma, an AI-enabled cloud platform, as part of its digital transformation programme aimed at improving project planning and execution across its development and redevelopment portfolio.The platform will be integrated into the company's Building Information Modelling (BIM) workflow to support architects, planners and project teams during the early stages of design and development. Autodesk Forma combines real-world data, environmental simulations and collaborative workflows to facilitate data-d..