Credit rating agency Acuite Ratings and Research forecast India’s gross domestic product (GDP) growth at 7 percent in FY23.<\/p>\n\n\n\n
In a report, Acuite said India’s annualized GDP growth in Q2 FY23 expectedly, expanded at a slower pace of 6.3 percent year-on-year (YoY) as against 13.5 percent in Q1 FY23, the latter led by the easing of favorable base impact created by the second Covid wave in the previous year.<\/p>\n\n\n\n
Nevertheless, India’s growth impetus driven by domestic demand as judged by high-frequency lead indicators continues to remain resilient, withstanding the uncertain and increasingly antagonistic global environment, the report said.<\/p>\n\n\n\n
According to Acuite, while pent-up, as well as festive demand, has had a positive role to play in keeping up this momentum, there is a possibility of moderation in some of the lead indicators in the second half of the fiscal unless there is a sustainable and consistent uptick in rural demand.<\/p>\n\n\n\n
The loss of working days in a festive heavy month may have caused a scare on the IIP in October, a sharper slowdown in global growth is likely to have a stronger bearing on growth from Q3 FY23 onwards, the report said.<\/p>\n\n\n\n
Looking ahead on an annualized basis, Acuite said as the favorable statistical effect tapers further, incremental GDP growth is expected to be on the decelerating path.<\/p>\n\n\n\n
For Q3 and Q4, growth is likely to slip closer to 4-4.5 percent. This factors in incremental external risks and their impact on domestic growth, despite support from factors such as strength in services demand, upside in rabi sowing, CAPEX-oriented government expenditure, and the moderation in global commodity prices.<\/p>\n\n\n\n
Taking into account the upside and downside factors, we revised the GDP growth forecast only marginally to seven percent in FY23, Acuite said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Just a decade back, the joy of business, owners seeing their business details in a local yellow pages book felt like an achievement. The pride made them distribute a few copies among their contacts.<\/p>\n
Sadly, these pages are getting ready to hibernate forever within a couple of years. Today there are online business directories that serve the very purpose to provide business contacts as per customer needs…<\/p>\n","protected":false},"author":1,"featured_media":29087,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"image","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[16,17],"tags":[3297,3762,3298,3300,1675,3296,3295,3701,3763,3301,3764,3765,3760,3759],"class_list":["post-29078","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-blog","category-news","tag-b2b","tag-b2bodisha","tag-b2bodisha-digital-india","tag-blog-service","tag-businesslisting","tag-content-promotion","tag-data-strategy","tag-digital-promotion","tag-digitalodisha","tag-dynamic-listing","tag-godigital","tag-growbusiness","tag-msme","tag-msmelisting","post_format-post-format-image"],"yoast_head":"\n