These agencies had initially estimated double-digit growth for the Indian economy due to a low base and revival of business activities in the country after the first wave of Covid in 2020. For instance, Mumbai-based CRISIL, which had earlier pegged India’s economic growth for fiscal 2022 at 11%, has lowered its estimate to 8.2% in a worst-case scenario.

https://qz.com/india/2009079/sp-crisil-and-icra-cut-indias-gdp-estimate-due-to-covid-wave/?utm_content=478e89eb-ba0c-11eb-821f-e2f07557ca25