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Domestic demand recovery to support growth
S&P Global Ratings has projected India’s economic growth at 7.3% in the current fiscal year, an improvement on 7%-7.2% growth seen by other rating agencies.
India’s growth will get support from domestic demand recovery after the coronavirus pandemic, it said on 26 Sept 2022.
“We have retained our India growth outlook at 7.3% for the fiscal year 2022-2023 and 6.5% for the next fiscal year, although we see the risks tilted to the downside,” it said.
Asian Development Bank has cut the projection to 7% from 7.5% earlier.
The Reserve Bank of India (RBI) expects the Indian economy to grow 7.2% in the current fiscal (April-March). The growth last year (2021-22) was 8.7%. fiinews.com
