S&P Global Ratings has maintained its growth forecast for India in the current fiscal year at 6 percent, citing several factors including a slowing global economy, the risk of subnormal monsoons, and the delayed impact of rate hikes. Despite a strong expansion in the Indian economy during the June quarter, S&P remains cautious about fiscal 2024 due to these economic challenges. The agency also revised up its full fiscal year retail inflation forecast to 5.5 percent, up from 5 percent, primarily due to higher global oil prices.
The Indian economy grew by 7.2 percent in the fiscal year 2022-23, which ended in March 2023. While S&P retained its growth projection of 6 percent for the current fiscal year, it anticipates a growth rate of 6.9 percent for both the fiscal years 2024-25 and 2025-26. S&P noted that India’s consumption growth and capital expenditure remained robust during the June quarter.
In the context of the Asia Pacific region, S&P highlighted that the region exhibits varying growth rates, describing it as a “multi-speed region.” It slightly raised its growth forecast for the region in 2023 to 3.9 percent due to domestic resilience. Despite global economic challenges, year-on-year GDP growth increased in the second quarter in both developed and emerging Asian economies, with India leading the way.
هذه القصة مأخوذة من طبعة September 26, 2023 من The Business Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة September 26, 2023 من The Business Guardian.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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