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Nomura cuts 2023 India GDP forecast to 4.7% amid recession fears
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IIP growth up just 1.7% compared to pre-Covid periods, manufacturing lags

Flat growth may prompt the monetary policy committee not to go for an aggressive rate hike in August

Topics
Industrial production | Indian Economy | Manufacturing sector

Indivjal Dhasmana  |  New Delhi 



indian economy
The low-base effect was so pronounced that manufacturing showed a hefty 21 per cent growth in May year-on-year this time

India’s climbed to a 12-month high of around 20 per cent in May year-on-year but it is up just 1.7 per cent when calculated for the same month in 2019 before the hit the country.

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First Published: Wed, July 13 2022. 13:11 IST

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