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ICRA cuts India’s GDP growth forecast in FY23 to 7.2%

Rating agency ICRA has lowered the growth forecast for India’s GDP in 2022-23 (FY23) to 7.2 per cent.

Sumit Arora Published On March 30th, 2022 Leave a comment

Rating agency ICRA has lowered the growth forecast for India’s GDP in 2022-23 (FY23) to 7.2 per cent. Earlier this rate was 8 per cent. The ICRA Ltd. has projected the GDP growth forecast for 2021-22 (FY22) at 8.5%, lower than the official advance estimate from the National Statistical Office of 8.9%.

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Citing elevated commodity prices and supply chain challenges arising from the Russia-Ukraine conflict, as well as higher prices of fuels and edible oils denting demand due to squeezed household incomes.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.