India Economic Forecast

Key metrics, such as goods and services tax (GST) collection, e-way bills, and toll revenues, increased in October

Due to the government's efforts toward fiscal consolidation, central government debt is projected to decline from 58.2 per cent of GDP in FY2023 to 56.8 per cent in FY2024

Finance Minister Nirmala Sitharaman will present the budget on Feb. 1, factoring in the growth projections

India has the potential and should aim to grow at 8 per cent annually to bring about transformative changes in the lives of millions of people by around 2050, said noted economist and former US Treasury Secretary Larry Summers here on Saturday. India's GDP growth in 2022-23 was 7.2 per cent as against 9.1 per cent in 2021-22. According to the Reserve Bank of India's projections, India's GDP will likely grow 6.5 per cent in the current fiscal year. Summers clarified that 8 per cent growth was not his forecast on the basis of current policy, but added, "given India's potential, even in a more challenging world economy, I believe that it is an imaginable goal. "...an eightfold expansion in the economy is transformative in the lives of hundreds of millions of people. I think it is something to target as India defines its greatness in this next century." In his lecture on 'The World is on Fire', organised by the CII in partnership with Department of Economic Affairs (DEA), the eminent .

The government also criticised Moody's comment that it expects high nominal GDP growth and ongoing fiscal consolidation to "stabilise the government debt burden at high levels

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The IMF had revised India's forecast from 1.6 percentage points from 9 per cent in January 2022 to 7.4 per cent in July 2022

S&P noted that India's domestic recovery from Covid-19 would continue to support growth in FY23

Goldman Sachs has revised lower its growth projections for India after the April-June quarterly gross domestic product readings missed market estimates.

What do a recent announcement by the finance minister and the projections of the RBI's Monetary Policy Committee have to say about India's real GDP growth in FY23? Let's find out

"While the government's capital infusion into public sector banks will help them meet Basel capital requirements, it will not boost credit growth," the agency said

The Reserve Bank of India revised its forecast of economic growth for the current fiscal year (2020-21) to minus 7.5 per cent compared to its earlier forecast of minus 9.5 per cent

While the economy will still see a fall in FY21, it is likely to be less pronounced than what experts had forecast earlier

HSBC Holdings Plc said India's potential growth could drop to 5% in the post-pandemic world from 6% on the eve of the outbreak and more than 7% before the global financial crisis

Interestingly, all the 50 Nifty components have delivered positive gains during this period.

The World Bank reduced its FY18 India growth estimate to 7% from 7.2% earlier; IMF projected India would growth at 6.7%