Expect over 9.5% GDP growth in FY22: Axis Bank's chief economist

Vaccination holds the key on the growth front going ahead, he said, warning that if the inoculations fall short, it can shave off 1 percentage point from the GDP growth estimate

The government will have to do its bit to help for a faster recovery and start spending at the earliest, Axis Bank's chief economist Saugata Bhattacharya said on Thursday, estimating the FY22 GDP growth to come at between 9.5-10 per cent.
 
The Reserve Bank, which was the earliest to act with rate cuts and liquidity enhancement measures, has run its course now and will play a limited role in the recovery by ensuring stable financial conditions, Bhattacharya told reporters on the eve of the central bank’s bi-monthly policy review.
 
He said private consumption has fallen and there has