
Moody's raises India's GDP growth forecast to 5.5% for 2023
Moody's Investors Service has increased India's GDP growth estimate from 4.8% to 5.5% for 2023.
Moody's Investors Service has increased India's GDP growth estimate from 4.8% to 5.5% for 2023.
V Anantha Nageswaran pointed out that India may achieve its potential growth if the global situation becomes less hostile.
Growth in India is projected to slow to 6.9% in FY23, says World Bank.
“Indian economy is growing despite the global monetary tightening and commodity price shock caused by the geo political situation,” says CEA Anantha Nageswaran
Ind-Ra's estimate shows that even if GDP grows at 7.6% every year after FY23, then also India would be able to catch up with pre-pandemic trend growth only by FY35.
Inability to deliver strong fundamentals to back exuberance could lead India astray from the growth trajectory.
This brings India's GDP growth for the March quarter to an one-year low despite managing to outdo expectations by most analysts.
The GDP growth projections range between 5.4% and 9.1%, but there is near-consensus that high inflation and rate hikes will affect India’s economic growth.
Sales tax collection, retail activity and PMIs suggest solid momentum, but high oil prices and supply distortions remain a drag on growth, Moody's says.
The National Statistical Organisation (NSO) is likely to peg the FY22 real gross domestic product growth at ₹147.2 lakh crore in its second advance estimate, says Ind-Ra.