Credit Suisse cuts India's growth forecast but expects recovery

Citing the impact of the second wave of the COVID-19 pandemic on the economy and consumer sentiment, Swiss brokerage Credit Suisse has lowered its nominal GDP growth forecast for India by 150-300 bps to 13-14% in FY22. The brokerage firm, however, expects a stronger recovery later as it sees the lockdowns having a limited impact on tax collections.