Categories: Economy

India Ratings lowers India’s FY23 GDP growth forecast to 7-7.2%

India Ratings and Research (Ind-Ra) has revised downwards the GDP growth forecast for India in FY23 to 7-7.2 per cent. Earlier in January, the rating agency Ind-Ra had forecast this rate at 7.6 per cent.

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According to Ind-Ra, in scenario one, the crude oil price is assumed to be elevated for three months, and in scenario two, the assumption is for six months, both with a half cost pass-through into the domestic economy. Since the duration of the Russia-Ukraine conflict continues to be uncertain, Ind-Ra has created two scenarios with respect to the FY23 economic outlook basis certain assumptions.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.

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