GDP of India: S&P estimates India's GDP growth rate to be 7.3% in the current financial year, know details

Posted on 26th Sep 2022 03:14 pm by rohit kumar

S&P Global Ratings on Monday projected India's GDP growth rate at 7.3% for the year 2022-23. Along with that, he has also expressed concern about the fall in the market and inflation. According to S&P, the inflation rate is likely to remain above the maximum level of 6 percent of the RBI's tolerance band till the end of 2022. In its Economic Outlook for the Asian continent, S&P has said that India's growth will be supported by a recovery in demand next year after recovering from the corona pandemic.

 

S&P Global Ratings has said that we have retained India's GDP growth forecast for the fiscal year 2022-2023 at 7.3 percent and the next fiscal year at 6.5 percent. Although we see risks further sloping

 

 

Several other agencies have also cut India's GDP growth forecast amid high inflation and rising policy interest rates. Earlier this month, Fitch Ratings slashed the growth forecast for the current fiscal to 7 percent from 7.8 percent earlier. India Ratings and Research also lowered its estimates for India's GDP to 6.9 percent from the earlier 7 percent.

 

Also Read: Apple: Every fourth iPhone may be made in India by 2025, Apple wants to stop its production in China

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