New Delhi : Recently, the Asian Development Bank and Fitch significantly cut India’s economic growth forecast for the current financial year to seven per cent, while world-renowned S&P Global Ratings on Monday maintained its earlier forecast of 7.3 per cent growth. announced that The credit rating agency has predicted that the inflation rate will remain at a feverish high of six percent till the end of 2022.
India’s economy expanded at a rate of 13.5 percent in the April-June quarter of 2022, after achieving 8.7 percent growth in gross national product (GDP) last year (2021-22). The S&P’s forecast of 7.3 per cent is the highest ever forecast by economists and reputed financial institutions for the current financial year. In fact, it is higher than the RBI’s estimate of 7.2 percent and the RBI is also expected to cut its growth forecast at the end of the bi-monthly review meeting scheduled for the end of the week.
Different speculations regarding the rate of development..
S&P Ratings – 7.3 percent
Reserve Bank – 7.2 percent
Asian Development Bank – 7 percent
Fitch Ratings – 7 percent
India Ratings – 6.9 percent
State Bank – 6.8 percent
Citigroup – 6.7 percent