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India's GDP to grow at 6% in FY24: CRISIL
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"A complex interplay of geo-political events, stubbornly high inflation, and sharp rate hikes to counter that, have turned the global environment gloomier," CRISIL said. On the domestic front, the peak impact of the rate hikes -- 250 basis points since May 2022, which has pushed interest rates above pre-Covid-19 levels -- will play out.
India's GDP growth at 7% in FY23: Acuite Ratings
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In a report, Acuite said it is maintaining India's GDP growth at 7 per cent for FY23 and 6 per cent for FY4. The credit rating agency said India's industrial activity rose to 5.2 per cent year-on-year (YoY) in January 23 from 4.7 per cent in December 22, marginally beating market consensus. Sequential momentum in the index of.
GDP growth slides to 4.4% in December quarter of 2022-23
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The GDP growth was 6.3 per cent in the September-quarter of 2022-23. The second quarter growth itself was almost half of 13.2 per cent growth seen in the April-June quarter of the current fiscal. The Reserve Bank of India (RBI) had suggested a growth rate of 4.4 per cent for the last quarter of 2022-23, however that projection was based on the annual GDP projection of 6.8 per cent by the central bank.
India's GDP growth in FY23 to be 7%, FY24 at 6%: Acuite Ratings
IANS -
It also anticipates the economic growth trajectory in FY24 to slip to 6 per cent, which would still make India one of the highest growth economies in the world. According to the ratings agency, the Indian economy has managed to withstand the headwinds rather well over the last several months amidst a tough global environment.
Eco Survey says GDP growth to be 6.5% in 2023-24, slashes forecast to 7% in current fiscal
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The survey said that in real terms, the economy is expected to grow at 7 per cent in the current financial year (2022-23), a downward revision from 2021-22, when the growth was 8.7 per cent in the previous financial year (2021-22). The fiscal deficit for 2022-23 is estimated to be 6.4 per cent of the GDP, the document said.
India's fiscal deficit for FY23 estimated at Rs 17.5 L crore, FY24 Rs 17.95 L crore: SBI
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For India, this could make things difficult to set a nominal gross domestic product (GDP) number significantly higher than 10 per cent, with a deflator about 3.5 per cent. But this could also mean a higher GDP growth than anticipated at about 6.2 per cent, he said.
India's GDP to grow 7% in FY23: Acuite
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In a report, Acuite said India's annualised GDP growth in Q2 FY23 expectedly, expanded at a slower pace of 6.3 per cent year-on-year (YoY) as against 13.5 per cent in Q1 FY23, the latter led by the easing of favourable base impact created by the second Covid wave in the previous year.
India's growth expected to slow in 2023-24 on the back of sharp global slowdown
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While buoyant, it would still leave output about 7 per cent below its pre-pandemic potential trend, reflective of impact of the pandemic and adverse terms of trade shock from higher commodity prices in 2022. Growth is expected to slow in 2023-24, on the back of a sharp global slowdown, which is weighing on exports, and the progressive fiscal and monetary policy normalization at home, JP Morgan said.
World Bank upgrades India's GDP growth to 6.9% for current fiscal
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In its India Development Update, the global financial institution said that the revised update was mainly due to greater resilience shown by the Indian economy against global shocks and better September quarter figures. The World Bank has revised its GDP estimate downwards for 2023-2024 from 7 per cent to 6.6 per cent.
S&P Global forecasts India's growth at 6% for 2023, 7% for 2022
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In a research report S&P Global Ratings said India's forecast has been lowered by 0.5 percentage points for the next two fiscal years on slower global demand. Regional growth remains healthy overall. Meanwhile at global level, S&P Global Ratings said, global activity has held up surprisingly well so far despite a torrid pace of policy rate hikes and consistently high geopolitical uncertainties.
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