GDP to grow in double digits in the first quarter, says ICRA report

Economic recovery has gained momentum after the lifting of the localised lockdowns imposed in the aftermath of the second wave, but is "incomplete", according to a report by rating agency Icra.

The Indian economy will grow in double digits for the April-June period on the low base of 2020-21 but will still be short of the levels observed in the first quarter of FY20, it said.

"...the real GDP in Q1FY22 will trail the Q1FY20 level, while recording a double-digit y-o-y (year-on-year) expansion," it said in the report.