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 reconstituted Monetary Policy Committee, which met from 7 to 9 October, had decided to keep the benchmark lending rates unchanged in view of the hardening of retail inflation.
The dynamics between Europe and Russia have gone so south that mending fences looks like an uphill task—even as the US swings between sanctions and olive branches.
Centre for Science and Environment in new report makes case for rationalising GST on waste material, saying most informal operators can’t afford high tax & it also hinders recycling.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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