(Reuters) – J.P.Morgan raised its forecast for India’s annual growth by 50 basis points to 5.5% for fiscal 2024, but warned that a global economic slowdown and tighter financial conditions will still drag the economy.
The change comes after India’s economic growth accelerated to 6.1% in the March quarter, government data showed, boosted by government and private capital spending even as private consumption remained sluggish.
(Reporting by Aniruddha Ghosh in Bengaluru; Editing by Janane Venkatraman)
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