Indian economy to expand by 7.3% in FY23, says S&P
- IBEF
- September 28, 2022
The Indian economy is expected to grow by 7.3% in the current fiscal year, which ends in March, but inflation is expected to continue above the Reserve Bank of India's (RBI) upper tolerance level of 6% till the end of 2022, according to the latest projection from global rating agency S&P.
Domestic demand-driven economies are less sensitive to the global downturn. In 2023, South Korea and Taiwan are predicted to slow faster than India, Indonesia, and the Philippines. According to S&P's report on Asia-Pacific economic outlook, even though they expect negative risks, they have kept the India growth prediction at 7.3% for fiscal year 2022-23 and 6.5% for the following fiscal year.
The agency predicts that rising core inflation will push policy rates higher in Australia, India, New Zealand, the Philippines, and South Korea. Core inflation excludes food and petrol costs.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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