Moody’s Upgrades India’s 2023 GDP Growth Forecast to 6.7%: Moody’s Investor Service, a global rating agency, has upgraded its economic growth prediction for India, presenting a positive outlook for 2023. The agency has increased its forecast for India’s Gross Domestic Product (GDP) growth to 6.7 percent, up from the previous estimate of 5.5 percent. This
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ICRA Forecasts India’s GDP Growth of 8.5% in Q1, 2023: ICRA Ratings recently released a comprehensive report projecting a robust economic growth for India in the first quarter of the fiscal year 2023 (FY24). According to the survey, the country’s GDP growth rate is predicted to accelerate to 8.5% during the April-June period, a major
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IMF cuts India’s FY24 GDP forecast to 5.9%: The International Monetary Fund (IMF) has lowered India’s GDP growth forecast for fiscal year 2023-24 by 20 basis points to 5.9 percent. This latest forecast is slightly below the Reserve Bank of India’s projection of 6.4 percent. Despite the downward revision, India is still projected to be
S&P keeps India’s economic growth forecast unchanged at 6% for FY24: S&P Global Ratings has maintained its earlier forecast for India’s economic growth rate of 6% in the fiscal year beginning April 1, with an increase to 6.9% the following year. In its latest quarterly economic update for Asia-Pacific, S&P predicted that the inflation rate
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Ind-Ra projects India’s FY24 growth at 5.9% : Credit rating and research agency, India Ratings and Research (Ind-Ra) projected the growth of the Indian economy to 5.9% year on year during 2023-24. The GDP growth estimate of the agency is lower than the 6.4% real GDP growth projected by the RBI for FY24. According to the agency, there are fault lines in
Gross GST collection in December goes up by 15%: Continuing with the trend of robust GST collection in the country, the gross GST revenue collected during December 2022 reached ₹1,49,507 crore, going up by 15% compared to December 2021. Gross GST collected in November 2022 was ₹145867 crore, which means collection increased by ₹3640 crore
YouTube creators contributes over Rs 10,000 cr to India’s GDP: In 2021, the creative ecosystem of YouTube, which is owned by Google, was expected to sustain more than 750,000 full-time equivalent employment in India and contribute more than Rs 10,000 crore to the GDP of the country, according to a statement made on Monday by
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World Bank upgrades India’s GDP growth forecast for 2022-23 to 6.9 percent: The World Bank has increased its projection of 6.5% growth made in October to 6.9% growth for the Indian economy in 2022–2023. In October, it had cut India’s GDP growth forecast to 6.5 per cent from 7.5 per cent earlier. Now, it has upgraded
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CRISIL Revises India’s GDP Forecast for FY23 Down From 7.3% to 7%: CRISIL has revised its forecast for India’s real gross domestic product (GDP) growth to 7 per cent for the current fiscal (2022-23) from 7.3 per cent estimated previously. The credit rating agency said this is primarily because the slowdown in global growth has started to impact India’s exports and industrial activity.
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IMF cuts FY23 GDP growth forecast to 6.8% : As per the World Economic Outlook 2022 report, the International Monetary Fund (IMF) has cut the GDP growth forecast of India to 6.8% from 7.4% for 2022-23. October 2022 Current Affairs Quiz The IMF has also predicted that India will remain on track to become one of the
