Summary

Such has been the pervasive influence of Covid-19 that a year after its onset, no discussion on economic, business or credit quality outlook can be de-linked from it.

To wit, while the pandemic dragged the economy into its deepest contraction since Independence, the unlocking measures of the past few months have led to a pent-up demand gusher. So much so, the economic recovery in the second half of this fiscal has been reassuring.

Additionally, the Union Budget for next fiscal clearly aims for growth, laying significant emphasis on investments in infrastructure. The government's Production-Linked Incentive (PLI) scheme also has the potential to improve domestic manufacturing capacity.

Consequently, Crisil expects India's GDP to grow 11% next fiscal, aided in good measure by the low-base effect of this fiscal.

As the economy gathers pace, however, the number of Covid-19 cases have also started rising.

It is in this backdrop that Crisil Ratings invites you to a Ratings Round up (RRU) H2FY21 webinar where our experts will discuss:

• Key credit quality trends and their primary drivers for the second half of this fiscal
  
• Which sectors did well and which didn't
  
• India Inc's credit quality outlook and risk to the outlook
  

The presentation will be followed by a Q&A session with the leadership team of Crisil Ratings.