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.
It’s hard to build a house, run a business, or do anything without paying bribes. And yet, citizens’ anger about this open, unchecked corruption won’t erupt into Anna Hazare-type rallies.
As many as 21 policy reforms are under implementation following Invest Kerala Global Summit, as LDF govt works to change perception that the state is not conducive to businesses.
Amid continued concerns over cross-border terrorism, General Upendra Dwivedi further warned the neighbour that India will not show restraint if there is an Op Sindoor 2.0.
Pakistan’s army has been a rentier force available to a reasonable bidder. It has never come to the aid of any Muslims including Palestinians or the Gazans, except making noises here and there.
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