Global research house Nomura expects India's economy to grow at 13.5 percent in the financial year 2021-2022, while it expects yields to drift higher reflecting the macroeconomic setup.

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India's GDP growth in FY22 is estimated at 13.5 percent, Nomura said.

From an economic standpoint, the mobility numbers are normalising in India. The overall economic impact of the COVID-19 cases rising looks limited, Nomura added.

However, there could probably a slight sequential increase in the January-March quarter, it said.

(To be updated)