S&P Global Rating said, there will be no relief from inflation, GDP may remain 7.3% in 2022-23
India GDP Growth: Rating agency S&P Global Ratings has projected India’s economic growth rate to be 7.3 percent in the current fiscal year 2022-23. At the same time, inflation of the rating agency will continue to haunt and it may remain above the RBI’s tolerance level of 6 percent till the end of 2022.
S&P Global Ratings said that India’s growth outlook in 2022-23 is likely to be 7.3 percent. So in 2023-24 the economic growth rate is estimated to be 6.5 percent. Before S&P Global Ratings, many other rating agencies have reduced the growth estimate of India’s economic growth. Fitch Ratings has estimated GDP to be 7 percent in the current financial year, down from its earlier estimate of 7.8 percent. The Asia Development Bank has lowered the growth forecast to 7 per cent from 7.5 per cent.
However, the growth forecast of S&P Global Ratings is higher than the RBI’s estimate. According to RBI, the economic growth rate can be 7.2 percent in 2022-23. Let us tell you that in the last year the GDP was 8.7 percent. At the same time, the first quarter of the current financial year between April and June has been 13.5 percent GDP.
According to S&P Global Ratings, retail inflation is likely to remain above the RBI’s tolerance level of 6 per cent till the end of 2022. According to the rating agency, due to the high inflation rate, the policy rates can be increased by the RBI. S&P Global Ratings said that the repo rate may remain at 5.90 percent by the end of the 20222-23 financial year. It is clear that in the coming monetary policy meeting, S&P Global Ratings is projecting to make debt costlier.
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