Indian economy to grow at 6.7% in 2024: UN
Higher interest rates and weaker external demand will continue to weigh on investment and exports in 2023, says UN.
Higher interest rates and weaker external demand will continue to weigh on investment and exports in 2023, says UN.
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.
S&P forecasts inflation to come down 5% in FY24 from 6.8% in the ongoing financial year.
The agency says pent-up demand which had provided thrust to the growth in the first half of FY23 is already normalising.
Economic activity in Q3 FY23 remained distinctly uneven, says ICRA.
Nominal GDP in the current fiscal is estimated to grow at 15.4% this fiscal compared with 19.5% in the previous financial year.
SBI Research believes that Q2 manufacturing sector growth is likely to be weak on the back of margin compression.
RBI expected to factor in a rate hike in Aug and Oct as well; it'll also aim at taking the repo rate higher than pre-Covid level by Aug to 5.25%, says SBI Research.