Current Affairs   »     »  

Ind-Ra Projects India’s GDP Growth Rate at 7.6% in FY23

Ind-Ra Projects India's GDP Growth Rate at 7.6% in FY23_50.1

India Ratings and Research (Ind-Ra) has projected the real gross domestic product (GDP) growth rate of the Indian economy to grow at 7.6 per cent year-on-year in 2022-23 (FY23). Ind-Ra is a wholly-owned subsidiary of the Fitch Group. The economic recovery was encouraging, he said, and restrictions put in place by many states to contain the current wave of Covid-19 were not as severe as the second wave. Nonetheless, there are risks to the ongoing recovery, the rating agency warned.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

It pointed to the latest FY22 GDP advance estimates, which show that private final consumption expenditure (PFCE) — the largest component of GDP (58.6 per cent) from the demand side and a proxy for consumption demand — is projected to grow only 6.9 per cent YoY in the current year, despite a low base and sales data of many consumer durables showing robust growth.

Find More News on Economy Here

Ind-Ra Projects India's GDP Growth Rate at 7.6% in FY23_60.1

Ind-Ra Projects India's GDP Growth Rate at 7.6% in FY23_70.1

Thank You, Your details have been submitted we will get back to you.

Leave a comment

Your email address will not be published. Required fields are marked *