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Language , Updated: Jul 21, 2022, 9:18 PM
New Delhi, 21 (PTI) Industry body FICCI has slashed India’s economic growth forecast for the current financial year (2022-23) from 7.4 per cent to 7 per cent. FICCI has downgraded its growth forecast due to geopolitical uncertainties. FICCI’s Economic Outlook Survey (July 2022) states that the Reserve Bank of India will increase the key policy rate repo to 5.65 percent by the end of the current financial year. At present the repo rate is 4.9 percent. The survey was conducted in June and included industry, banking and financial services sectors.
FICCI’s Economic Outlook Survey (July 2022) states that the Reserve Bank of India will increase the key policy rate repo to 5.65 percent by the end of the current financial year. At present the repo rate is 4.9 percent.
The survey was conducted in June and includes leading economists representing industry, banking and financial services sectors.
According to the survey, the GDP growth rate in the financial year 2022-23 is likely to be 7 percent. FICCI said that the Indian economy can grow at a maximum rate of 7.3 percent. At the same time, the minimum growth rate is estimated at 6.5 percent.
FICCI said, “In view of the global uncertainty and its impact on the Indian economy, the economic growth rate has been reduced to 7 percent. Economic growth of 7.4 per cent was projected in the April 2022 survey.
Source: navbharattimes.indiatimes.com
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