The government has pegged the combined fiscal shortfall at 9.8 per cent of which the central deficit is seen at 6.4 per cent (down from 6.7 per cent in FY22) and states' at 3.4 per cent for FY23.
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The IMF had cut India's gross domestic product (GDP) growth projection for 2022 to 8.2 per cent from 9 per cent in its World Economic Outlook report in April
Soaring prices and the subsequent hit to consumer spending and investments are likely to further dampen India's economy, economists said
Projections by economists range widely, from 2.7% to 5.5%, but most, however, agree that the economy was on a steady footing in Q4FY22
SBI's research report Ecowrap, in its latest edition, projected India's GDP growth for FY22 to be at 8.2-8.5%
Price stability is a necessary precondition for strong and sustainable growth, it adds
While the RBI's monetary policy committee kept rates steady in its recent policy review in April, UBS expects the Indian central bank to hike rates starting June 2022
The comparative numbers spell bad news for the world rather than any good news for India, whose growth forecasts are getting tempered even as the inflation picture is getting worse, writes T N Ninan
In its first monetary policy announcement of 2022-23, the RBI projected inflation to be at 5.7 per cent this financial year. Real GDP growth for the year estimated at 7.2 per cent
Ratings agency ICRA has lowered India's FY23 GDP growth forecast to 7.2 per cent from an earlier projection of 8 per cent.
The article also said that while the post-pandemic debt consolidation will rely primarily on GDP growth, it needs to be complemented by fiscal consolidation
The rupee is the worst hit emerging market currency since the invasion of Ukraine by Russia and the resultant sweeping economic sanctions against Moscow
In a Q&A, he says the Ukraine war-led spike in commodity prices will impact household inflation, and that the capex thrust by the Centre and states may take a slight hit
'We believe that the ongoing geopolitical tensions exacerbate external risks and impart a stagflationary impulse to the economy,' they said
Geopolitical risks, hardening commodity prices may push it up more: Experts
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There is no question of a slowdown or recession, said Sitharaman, as she cited an estimated 9.2 per cent GDP growth in the current fiscal year ending March 31
If the government thinks growth is the solution, can it be delivered in a slowing world with rising rates - within the domestic context of slower growth even before the pandemic, asks T N Ninan
Sitharaman's Budget proposals focused on loosening the purse strings by boosting capital expenditure and going slow on fiscal consolidation are aimed in the right direction, the rating agency said