Having received additional data on Covid-impacted 2020-21, govt has revised the year’s growth upwards in each revision. Growth for post-pandemic 2021-22 has also been estimated higher.
While saying that higher interest rates affect growth more than inflation, the two members said raising rates further could result in 'unacceptably low' growth in 2023-24.
The government's annual Economic Survey report said its baseline scenario for growth for 2023/24 was 6.5%, with nominal growth, which accounts for inflation, forecast at 11%.
According to Deloitte’s survey, industry leaders say global economic slowdown, geopolitical tensions, & supply chain disruptions can pose challenges to India’s growth rate.
For the South Asian region, growth in 2023 & 2024 is seen at 3.6% & 4.6% respectively. 'This is mainly due to weak growth in Pakistan,' the bank said in its latest economic update.
India will have a growth rate of 6.5 per cent to seven per cent in 2022-23, which is considered to be good despite a high inflation rate of 7.4 per cent, V. Anantha Nageswaran said.
In past 4 decades, India's economy multiplied about 16-fold, and even if its growth numbers turn out to be less flattering in 2022 and 2023, IMF thinks its future remains bright.
Expectations of growth must be tempered, and with different indicators painting different pictures, World Bank's 6.5% full year growth forecast is more likely than RBI's 7%.
US, China, Europe — financial, strategic, and economic centres of the world — have all been challenged. One must look beyond the chaos and focus on structural fault lines.
In study published by Levy Economics Institute, scholars from Delhi-based think tank NIPFP say social spending, child budgeting offer more positive outcomes in child protection.
A theme has not yet emerged for BJP & people see lack of a contest, which makes it unexciting. For all these reasons, 2024 is turning out to be an unexpectedly theme-less election.
COMMENTS