India GDP growth to decline, capex to support momentum: FinMin
India’s GDP growth is expected to slowdown, but remain higher than other emerging market economies and highest among major countries, the ministry says.
India’s GDP growth is expected to slowdown, but remain higher than other emerging market economies and highest among major countries, the ministry says.
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.