
SBI upgrades India's FY24 GDP growth forecast to 6.7%
In FY23, the country's GDP growth rate stood at 7.2%, which is higher than the Centre's second advance estimates of 7% and SBI’s forecast of 7.1%.
In FY23, the country's GDP growth rate stood at 7.2%, which is higher than the Centre's second advance estimates of 7% and SBI’s forecast of 7.1%.
The GDP growth rate in the full year 2022-23 stood at 7.2% compared with 9.1% in 2021-22.
For Q4 FY23, SBI projects the country's GDP will grow at 5.5%.
Shaktikanta Das says it will not be a surprise if GDP growth for FY23 comes slightly above the 7% estimate
Higher interest rates and weaker external demand will continue to weigh on investment and exports in 2023, says UN.
The ministry also mentioned that the downside risk to the official forecast of 6.5% for real GDP growth in FY24 dominate upside risks.
The deceleration of the Indian economy to 6% from a 6.6 % growth in GDP in 2022 will be because of the weakening of government spending, says UNCTAD.
This is the lowest GDP growth forecast for India among other estimates by global financial institutions.
India's economic activity remains resilient, says RBI governor Shaktikanta Das.
The reopening of the Chinese economy is important for the short term prospects of the global economy, including India, says World Bank's Auguste Tano Kouame.