Citi, ICICI Bank lower India's growth projections on virus surge

Economists, including those at Citigroup, India Ratings & Research, and ICICI Bank, have lowered their gross domestic product (GDP) estimates after official data on Friday showed Asia’s third-largest economy will likely expand by 9.2% in the fiscal year to March -- a pace that’s slower than the 9.5% previously expected by the Reserve Bank of India (RBI), as well as the International Monetary Fund (IMF).