Date: 24/02/2023

GDP growth seen at 7 pc for FY23 

India’s gross domestic product (GDP) growth is estimated in FY23 at 7 per cent, according to credit rating agency Acuite Ratings and Research. It also anticipates the economic growth trajectory in FY24 to slip to 6 per cent, which would still make India one of the highest growth economies in the world. The Indian economy has managed to withstand the headwinds rather well over the last several months amidst a tough global environment. Domestic growth impulses have gained strength, as urban consumption continues to push demand for both goods and services with derivative support accruing from the government capex cycle which has got a further boost from the Union Budget 2023. Private investments remain somewhat confined, although the higher credit growth reflects the start of a trickle, it said, as per a report.
Source: Exim News Service: New Delhi, Feb. 23