|
|
|
|
'India's GDP growth at 7% in FY23'
|
|
|
|
| Top Stories |
 |
|
|
|
IANS | 14 Mar, 2023
Credit rating agency Acuite Ratings & Research on Monday reiterated
its forecast of Indian gross domestic product (GDP) growth at 7 per cent
for FY23.
In a report, Acuite said it is maintaining India's GDP growth at 7 per cent for FY23 and 6 per cent for FY4.
The
credit rating agency said India's industrial activity rose to 5.2 per
cent year-on-year (YoY) in January 23 from 4.7 per cent in December 22,
marginally beating market consensus.
Sequential momentum in the
index of industry production (IIP) was moderately strong at 0.8 per cent
month-on-month (MoM) in January 23, building on the 5.7 per cent MoM
expansion recorded in the previous month, and broadly in line with the
average expansion of 0.7 per cent MoM usually seen in the month of
January.
According to Acuite, the government's strong capex
disbursals, recovery in auto sales, and improving capacity utilization
at a macro level ought to have played a supportive role.
However,
weakening of growth impulses due to tightening of global financial
conditions and persistent geopolitical uncertainty continue to be a
matter of concern and has started to reflect through a weakness in
manufacturing exports, Acuite said.
In addition, a subdued
recovery in the pace of private capex along with expectations of a
moderation in urban consumption pose concerns about the strength of the
recovery in FY24, Acuite said.
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
₹95.3
|
₹93.6 |
UK Pound
|
₹127.7
|
₹123.7 |
Euro
|
₹110.65
|
₹106.9 |
| Japanese
Yen |
₹59.75 |
₹57.9 |
| As on 24 Jun, 2026 |
|
|
| Daily Poll |
 |
 |
| What’s your biggest challenge with the 45-day payment rule? |
|
|
|
|
|
| Commented Stories |
|
|
|
|
|
|
| |
|
