After Nomura slashed India's 2023 GDP growth forecast to 4.7 per cent from its earlier projection of 5.4 per cent amid recession fears and rising interest rates, analysts at Morgan Stanley, too, have lowered their GDP growth estimates. They now expect the Indian economy - as measured by GDP - to grow at 7.2 per cent in fiscal 2022-23 (FY23), 40 basis points (bps) lower than their earlier estimates. For FY24, the revised projection stands at 6.4 per cent - down 30 bps.
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First Published: Mon, July 18 2022. 12:49 IST