Indian economy to grow 6.9% in FY23, up from 6.5% estimate: World Bank

[lightoftruth]

The World bank report sees average retail inflation at 7.1 this year. India's economy expanded 6.3% in the July-September quarter, and gross domestic product growth for the full fiscal year is likely to be 6.8-7%.​

India's economy is expected to grow 6.9% in the current fiscal year, the World Bank said in a report on Tuesday, citing tightening monetary policy and high commodity prices as factors impacting the country's growth.

The report sees average retail inflation at 7.1 this year.

Asia fourth-largest economy expanded 6.3% in the July-September quarter, and gross domestic product growth for the full fiscal year is likely to be 6.8-7%, the government said last week.

The World Bank raised its forecast for India's growth to 6.9% for the current fiscal year from 6.5% earlier. The Bank trimmed its expectation for next fiscal year to 6.6% from 7% earlier.

India, like its global peers, has been plagued by a rise in commodity prices and tightening monetary policy by central banks worldwide.

However, the World Bank is confident that the global slowdown has a much lower impact on India, compared to other emerging economies.

"We have no concerns about India's debt sustainability at this stage," World Bank economist Dhruv Sharma said, adding that public debt had declined.

The report sees average retail inflation at 7.1% this year and warns that the fall in commodity prices could dampen inflationary pressures.

India's annual retail inflation eased to a three-month low of 6.77% in October, but some economists believe it could take up to two years before the rate eased to 4% — the middle level of the Reserve Bank of India's target.

https://www.hindustantimes.com/busi...6-9-this-year-world-bank-101670309738593.html

7% in current conditions is fine ,from next year onwards 8-9% should be our target.

 

[Skull and Bones]

Kudos to the government for managing inflation so well and still growing at a decent pace.

 

[Chat SAMOSA]

The oil deal, the control over state largesse (partial), the enormous support to business and industrial sector, the farmers insurance etc, the privatization successes, the enormous digitization of services success and stuff like UPI have made a significant positive impact. The endemic corruption however at all levels is vexing.

 

[Sam6536]

The oil deal, the control over state largesse (partial), the enormous support to business and industrial sector, the farmers insurance etc, the privatization successes, the enormous digitization of services success and stuff like UPI have made a significant positive impact. The endemic corruption however at all levels is vexing.

UPI is a damn good system
barely anyone uses cash in my university nowadays.

 

[Skull and Bones]

UPI is a damn good system
barely anyone uses cash in my university nowadays.

Where and what are you studying?

 

[Sam6536]

Where and what are you studying?

National Law University Jodhpur
studying BA LLB (5 yr course)

 

[Turingsage]

Fitch Ratings on Tuesday retained India’s economic growth forecast at 7 per cent for the current fiscal, saying India could be one of the fastest-growing emerging markets this year.

It, however, cut the projections for the next two financial years, stating that even though the country is shielded to some extent from global economic shocks but is not impervious to global developments.
In its December edition of the Global Economic Outlook, Fitch projected India’s GDP to grow at 7 per cent in the current fiscal and slow to 6.2 per cent in 2023-24 and 6.9 per cent in 2024-25.

In September, Fitch had projected 7 per cent growth for the current fiscal, followed by 6.7 per cent in 2023-24 and 7.1 per cent growth in 2024-25.

Fitch retains India’s GDP forecast at 7%, cuts outlook for next 2 years

Fitch said India is expected to record one of the fastest growth rates among emerging markets in our Fitch20 coverage this year.

indianexpress.com

 

[Chat SAMOSA]

UPI is a damn good system
barely anyone uses cash in my university nowadays.

Oh yeah. A few months ago I saw a woman selling fruit in a push cart. Stopped to buy some - she preferred I scan the qr code on the cart than cash. And wouldn't tk the rs.20 I added and gave few more bananas.

And then switched on the gizmo that yells out loud so they can all hear her wares!

 

[The BrOkEn HeArT]

Fitch Ratings on Tuesday retained India’s economic growth forecast at 7 per cent for the current fiscal, saying India could be one of the fastest-growing emerging markets this year.

It, however, cut the projections for the next two financial years, stating that even though the country is shielded to some extent from global economic shocks but is not impervious to global developments.
In its December edition of the Global Economic Outlook, Fitch projected India’s GDP to grow at 7 per cent in the current fiscal and slow to 6.2 per cent in 2023-24 and 6.9 per cent in 2024-25.

In September, Fitch had projected 7 per cent growth for the current fiscal, followed by 6.7 per cent in 2023-24 and 7.1 per cent growth in 2024-25.

Fitch retains India’s GDP forecast at 7%, cuts outlook for next 2 years

Fitch said India is expected to record one of the fastest growth rates among emerging markets in our Fitch20 coverage this year.

indianexpress.com

Did GOI release the data of Q2 growth yet?

 

[Skull and Bones]

National Law University Jodhpur
studying BA LLB (5 yr course)

Badhiya hai sirjee.

Did GOI release the data of Q2 growth yet?

Ya, I think it was 6.3%.