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Date: 24/11/2022

GDP seen at 7 pc for FY23: Crisil

Crisil has downgraded its India growth forecast by 30 bps to 7 per cent for FY 23, from the previous estimate of 7.3 per cent. It revised down the forecast for real gross domestic product growth to 7 per cent primarily because of the slowdown in global growth that has started to impact exports and industrial activity. This will test the resilience of domestic demand, Crisil Chief Economist Dharmakirti Joshi said in a note. Despite the markdown in near-term growth, the country is expected to remain a growth outperformer over the medium-run, he said, and expects GDP growth to average 6.6 per cent between fiscals 2024 and 2026, said a report.

Source: Exim News Service: Mumbai, Nov. 23