The IMF had cut India's gross domestic product (GDP) growth projection for 2022 to 8.2 per cent from 9 per cent in its World Economic Outlook report in April
Growth has not come roaring back after the pandemic
The GDP expanded by 4.1 per cent in the final quarter of the 2021-22 fiscal year, according to data released by the National Statistical Office.
CLOSING BELL: Sun Pharma, Kotak Bank, HDFC, SBI, Reliance Industries, Shree Cement, and HDFC Life fell up to 3.5 per cent.
A Reuters poll predicts India's FY22 GDP growth rate at 8.9 per cent while a Bloomberg survey suggest a growth rate of 8.7 per cent
Soaring prices and the subsequent hit to consumer spending and investments are likely to further dampen India's economy, economists said
Stocks to Watch: Investors will react to LIC and Delhivery's Q4 numbers. The domestic GDP data for March quarter, slated to be released later today, will also be keenly monitored.
Growth in Asia's third-largest economy was pencilled in at 4.0% for the January-March quarter from the same period a year ago in a Reuters poll of 46 economists
Lender's chief economic advisor says projection for economy is clouded by significant uncertainties.
The rating agency assumes that the Russia-Ukraine conflict is more likely to drag on and escalate than end earlier, pushing the risks to the downside
However, the IMF data conveys that the economy will be $4.92 trillion in FY28, clearly alluding to the fact that the target will be realised in FY29
The divergence in real GDP growth and employment growth may continue into 2022-23, although it could be much smaller
While the RBI's monetary policy committee kept rates steady in its recent policy review in April, UBS expects the Indian central bank to hike rates starting June 2022
"We had lost two years of growth" because of the pandemic, Choueiri said in a separate interview Friday with Bloomberg Television's Kathleen Hays. "There is still catch up growth happening in India."
A high growth rate for India is positive news for the world, IMF MD Kristalina Georgieva has said.
Sluggish recovery in consumption demand, uncertainties of Ukrainian war cited
He said that even the fact that India is able to buy some cheap oil from Russia at the moment, the big picture is still that they are being hurt by the high commodity prices in the market
Notwithstanding economic uncertainties triggered by the Russia-Ukraine war that is also impacting the global supply chain, Jalan said it is not going to affect India's economic performance
Most respondents see status quo on repo, reverse repo and stance
States should not go back on pensions