S&P cuts India's growth forecast to 7% for FY23
New Delhi, Nov. 28 -- S&P Global Ratings on Monday cut India's economic growth forecast for current fiscal year to 7 per cent,
but said the domestic demand-led economy will be less impacted by the global slowdown.
S&P had in September projected the Indian economy to grow 7.3 per cent in 2022-23 and 6.5 per cent in next fiscal year
(2023-24).
"The global slowdown will have less impact on domestic demand-led economies such as India. India's output will expand 7 per cent
in fiscal year 2022-2023 and 6 per cent in next fiscal year," S&P Global Ratings Asia-Pacific chief economist Louis Kuijs said.
The Indian economy grew 8.5 per cent in 2021. In its quarterly economic update for Asia-Pacific, S&P said in some countries
the ...
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