{"id":131226,"date":"2023-03-17T12:05:03","date_gmt":"2023-03-17T06:35:03","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=131226"},"modified":"2023-03-17T12:05:04","modified_gmt":"2023-03-17T06:35:04","slug":"crisil-forecasts-indias-gdp-growth-at-6-for-next-fy-against-nsos-projection-of-7","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/crisil-forecasts-indias-gdp-growth-at-6-for-next-fy-against-nsos-projection-of-7\/","title":{"rendered":"CRISIL forecasts India\u2019s GDP growth at 6% for next FY against NSO\u2019s projection of 7%"},"content":{"rendered":"\n

CRISIL forecasts India\u2019s GDP growth at 6% for next FY against NSO\u2019s projection of 7%: <\/strong>CRISIL expects India\u2019s gross domestic product (GDP) growth to touch 6% in fiscal 2024, compared with 7% estimated by the National Statistics Office (NSO) for fiscal 2023.<\/p>\n\n\n\n

March 2023 Current Affairs Quiz<\/a><\/strong><\/p>\n\n\n\n

Why the India\u2019s GDP Growth On a Downturn:<\/strong><\/p>\n\n\n\n

A complex interplay of geopolitical events, stubbornly high inflation \u2014 and sharp rate hikes to counter that \u2014 have turned the global environment gloomier.<\/p>\n\n\n\n

On the domestic front, the peak impact of the rate hikes \u2014 250 basis points since May 2022, which has pushed interest rates above pre-Covid-19 levels \u2014 will play out in fiscal 2024.<\/p>\n\n\n\n

Inflation Expectation By the CRISIL:<\/strong><\/p>\n\n\n\n

Consumer inflation is expected to fall to 5.0% on average in fiscal 2024, down from 6.8% in fiscal 2023, as a result of the high base effect and some softening in crude and commodity prices. A good rabi harvest would help cool food inflation, while the slowing economy should moderate core inflation.<\/p>\n\n\n\n

The risks to inflation are tilted upward, given the ongoing heat wave and the World Meteorological Organization\u2019s prediction that an El Ni\u00f1o warming event is likely over the next couple of months.<\/p>\n\n\n\n

Exports Growth Prediction:<\/strong><\/p>\n\n\n\n

Merchandise exports are expected to grow at a slower pace of 2-4% in fiscal 2024, following a 5-7% increase in fiscal 2023, with the PLI scheme supporting demand through global supply chain diversification and ‘friend-shoring’ strategies.<\/p>\n\n\n\n

India\u2019s GDP growth forecast by various financial organizations:<\/strong><\/p>\n\n\n\n

NSO GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 8.9%<\/p>\n\n\n\n

NSO stands for National Statistical Office<\/strong><\/p>\n\n\n\n

Fitch GDP forecast for India<\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 8.4%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 7%<\/p>\n\n\n\n

\u2022 FY24 (2023-24) \u27a5 7%<\/p>\n\n\n\n

RBI GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 9.5%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 7%<\/p>\n\n\n\n

\u2022 FY24 (2023-24) \u27a5 6.3%<\/p>\n\n\n\n

Moody GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 For calendar year 2022 \u27a5 8.8%<\/p>\n\n\n\n

\u2022 For calendar year 2023 \u27a5 5.4%<\/p>\n\n\n\n

ADB GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a57%<\/p>\n\n\n\n

\u2022 FY24 (2023-24) \u27a5 8%<\/p>\n\n\n\n

\u2022 ADB stands for Asian Development Bank<\/p>\n\n\n\n

World Bank GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 8.3%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 6.5%<\/p>\n\n\n\n

\u2022 FY24 (2023-24) \u27a5 6.8%<\/p>\n\n\n\n

IMF GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 9%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 7.4%<\/p>\n\n\n\n

\u2022 FY24 (2023-24) \u27a5 6.9%<\/p>\n\n\n\n

FICCI GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 9.1%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 7.4%<\/p>\n\n\n\n

OECD GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 9.4%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 6.9%<\/p>\n\n\n\n

\u2022 FY24 (2023-24) \u27a5 5.5%<\/p>\n\n\n\n

Goldman Sachs GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 9.1%<\/p>\n\n\n\n

CRISIL GDP forecast for India<\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 9.5%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 7.3%<\/p>\n\n\n\n

UN (United Nations) GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 4.6%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 6.4%<\/p>\n\n\n\n

\u2022 FY24 (2023-24) \u27a5 6%<\/p>\n\n\n\n

CII (Confederation of Indian Industry) GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 9.5%<\/p>\n\n\n\n

India Ratings & Research (Ind-Ra) GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 8.6%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 7-7.2%<\/p>\n\n\n\n

Economy Survey GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 11%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 8-8.5%<\/p>\n\n\n\n

Standard & Poor\u2019s (S&P) GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 9.5%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 7.3%<\/p>\n\n\n\n

\u2022 FY24 (2023-24) \u27a5 6.5%<\/p>\n\n\n\n

ICRA (Investment Information and Credit Rating Agency) GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 8.5%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 7.2%<\/p>\n\n\n\n

SBI (State Bank of India) GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2022-23) \u27a5 6.8%<\/p>\n\n\n\n

Morgan Stanley GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 10.5%<\/p>\n\n\n\n

\u2022 FY23 (2022-23) \u27a5 7.2%<\/p>\n\n\n\n

\u2022 FY24 (2023-24) \u27a5 6.7%<\/p>\n\n\n\n

CARE Rating GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 8.8 to 9%<\/p>\n\n\n\n

Nomura GDP forecast for India<\/strong><\/p>\n\n\n\n

\u2022 FY22 (2021-22) \u27a5 10.8%<\/p>\n\n\n\n

\u2022 FY22 (2022-23) \u27a5 4.7%.<\/p>\n","protected":false},"excerpt":{"rendered":"

CRISIL forecasts India\u2019s GDP growth at 6% for next FY against NSO\u2019s projection of 7%: CRISIL expects India\u2019s gross domestic product (GDP) growth to touch 6% in fiscal 2024, compared with 7% estimated by the National Statistics Office (NSO) for fiscal 2023. March 2023 Current Affairs Quiz Why the India\u2019s GDP Growth On a Downturn: […]<\/p>\n","protected":false},"author":894,"featured_media":131227,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[5004],"tags":[82,2459],"class_list":["post-131226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-march-2023","tag-economy-current-affairs","tag-indias-gdp-growth"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/131226","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=131226"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/131226\/revisions"}],"predecessor-version":[{"id":131228,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/131226\/revisions\/131228"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/131227"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=131226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=131226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=131226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}