The growth rate was much faster than economists' forecasts of 6.6% as seen in a Reuters poll, and higher than revised growth of 8.1% in the previous quarter.
S&P expects India, currently world’s 5th largest economy, to grow at 6.4% this fiscal. In contrast, it expects China’s growth to slow to 4.6% by 2026 from estimated 5.4% this year.
MUMBAI (Reuters) - Fitch Ratings raised its growth forecast for the Indian economy to 6.3% for the current fiscal year, from 6% earlier, on the back of robust growth in the first quarter and strong
In its report, the IMF forecast global real GDP growth at 2.8% for 2023 and 3% for 2024, marking a sharp slowdown from 3.4% growth in 2022 due to tighter monetary policies.
World Bank’s India Development Update does, however, say that inflation will ease, and that strong services exports will mitigate some external factors expected to slow growth.
“This is a downward revision from our 8.5% forecast in March as inflationary impacts of global commodity price shock are dampening some of the positive growth momentum,” the ratings agency said.
The government has revised its GDP growth estimate for 2021-22 to 8.7 per cent on account of economic disruptions caused by the Covid-19 pandemic and spike in inflation.
It’s virtually written in the stars that private banks will continue to grab a bigger share than public banks. Two or three large, better-run govt banks should suffice.
The reasons for both sides preventing any escalation lie in the political and military context of the strategic situation in West Asia within the larger global geopolitical framework.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Coaching centres for Army aspirants in Jhunjhunu are shutting down due to plummeting admissions in the face of a lack of job guarantees under Agnipath Scheme.
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