India's GDP growth projection for FY2023 and FY2024 has been lowered by Morgan Stanley

Economists at Morgan Stanley stated in their recent report that they have marked down India’s gross domestic product (GDP) growth predictions to 7.6% for FY2023 and to 6.7% for FY2024.

May 11, 2022 - 04:12 PM 278 views

India's GDP growth projection for FY2023 and FY2024 has been lowered by Morgan Stanley

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© India's GDP growth projection for FY2023 and FY2024 has been lowered by Morgan Stanley

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Economists at Morgan Stanley stated in their recent report that they have marked down India’s gross domestic product (GDP) growth predictions to 7.6% for FY2023 and to 6.7% for FY2024.

Important Quotes

Our global economics team forecasts global growth to average 2.9% YoY in 2022, dropping from 6.2% growth in CY21. In contrast to this backdrop, we reduced our predictions of India’s GDP growth to 7.6% for F2023 (from 7.9%) and 6.7% for F2024 (from 7%).

Consistent global growth, negative trade terms of trade shock, and geopolitical tensions put enormous pressure on business confidence, all of which have a negative impact on the short term.

An increase in public infrastructure spending, combined with increased capacity utilisation and government policy reforms, can help private capex recover in the next 6–9 months.

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