Categories: Economy

India’s 2022 GDP growth prediction reduced by Goldman Sachs from 7.6% to 7%

India’s 2022 GDP growth prediction by Goldman Sachs: Following the quarterly gross domestic product figures for April through June falling short of market expectations, Goldman Sachs has revised lower its growth projections for India. A lower-than-expected growth during April to June increased the negative risk to current fiscal year growth predictions by 40 basis points.

Bank Maha Pack includes Live Batches, Test Series, Video Lectures & eBooks

India’s 2022 GDP growth prediction by Goldman Sachs: Key Points

  • In the reporting quarter, India’s real GDP growth increased 13.5% year over year, falling short of the 15.2% projection made by experts surveyed by Reuters.
  • GDP growth momentum decreased to -3.3% quarter-on-quarter after increasing by 0.5% from January to March.
  • The current fiscal year predictions decreased by 20 basis points from 7.2% and downgraded the full-year 2022 GDP growth forecast from 7.6% to 7%.
  • Goldman Sachs 7.2% growth forecast for the fiscal year 2022–2023 is subject to a 40 basis point downside risk.

According to Upasana Chachra, economist for India at Morgan Stanley, the somewhat slower-than-expected increase in investments and the larger drag from net exports were factors in India’s GDP falling short of expectations.

India’s 2022 GDP growth prediction by Goldman Sachs: About Goldman Sachs

  • The Goldman Sachs Group, Inc. is a prominent global investment banking, securities, and investment management company, offers a comprehensive range of financial services to a sizable and diversified clientele that consists of businesses, financial institutions, governments, and private individuals.
  • It is widely acknowledged that Goldman Sachs is the market leader in investment banking.
  • Goldman Sachs consistently comes out on top in numerous league tables and is the go-to resource for the biggest corporations in the world.

Find More News on Economy Here

Recent Posts

Which District of Uttar Pradesh is Known as the City of Rose Water?

There are many cities in India that are known for something special, like species, textiles…

12 hours ago

Jagannath Rath Yatra 2025 Begins with Snana Purnima Today; Check Full Schedule, Start and End Dates

Every year in Puri, Odisha, a very special festival takes place to honor Lord Jagannath,…

14 hours ago

Katrina Kaif Appointed Global Tourism Ambassador for the Maldives

In a strategic tourism and diplomatic move, Bollywood actor Katrina Kaif has been named the…

14 hours ago

GK Quiz on Kabir Das Jayanti 2025, Questions and Answers

Kabir Das Jayanti is celebrated every year to remember the birth of Sant Kabir Das,…

15 hours ago

Calcutta High Court Allows 15-Year-Old to Adopt Stepfather’s Surname

In a significant judgment, the Calcutta High Court has permitted a 15-year-old boy to adopt…

17 hours ago

Sri Lanka Celebrates Poson Poya: Honoring 2000 Years of Buddhism

Sri Lanka is observing the sacred Poson Poya festival today, which commemorates the arrival of…

17 hours ago