ADB cuts India GDP growth forecast to 7% for FY23
India's GDP estimates for FY24 also slashed to 7.2% from 8.0%; ADB says inflation will remain elevated in this, next fiscal year
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India's bioeconomy at $80 bn in 2021: S&T minister Jitendra Singh
Jitendra Singh says the number of biotech start-ups in the country has increased from 50 to over 5,300 in the last 10 years and hoped the numbers will further increase to 10,000 plus by 2025
Current account deficit faces high global prices menace: FinMin
Absence of a sustained and meaningful reduction on food and energy commodities will cause current account deficit to widen in FY23, says finance ministry.
Fitch revises India outlook to stable on recovery, growth prospects
The rating also balances India's external resilience from solid foreign-exchange reserve buffers against some lagging structural indicators.
War On Inflation
With RBI increasing rates, investment climate subdued and Ukraine war in full swing, government finds it hard to check inflation without hurting economic growth.
Moody’s slashes India’s 2022 growth forecast to 8.8%
Moody’s cautioned that growing inflation and rate hikes to control it will impede India’s demand recovery momentum.
Inflation, growth concerns forced surprise rate hike: MPC minutes
The worsening outlook of inflation warrants timely action to forestall second round effects which could lead to unanchoring of inflation expectations, states the RBI governor.
Budget capex push to ensure multiplier effect on economy: Sitharaman
The Budget also touches upon themes of sustainability, predictable tax regime, and continuing good measures from last year, said FM Nirmala Sitharaman.
Indian economy set for 9% growth in FY22, fastest in FY23: FinMin
The finance ministry expects consumption and demand to pick once the uncertainty and anxiety due to Covid-19 pandemic recedes.
