Warning that the new year will be riskier than the previous two in terms of growth, inflation and other external risks, as well as monetary policy normalization on consumption demand, the Wall Street brokerage predicted the next 8.2% GDP growth. Pencil done. Fiscal, with more downside risks to the projection.
consumption demand
The biggest risk to the forecast is a derailed consumption demand that has been the main growth driver over the past several years, said economists at Bank of America Securities’ India House, who still believe that consumption demand will rise in the next fiscal. will continue to be a major driver of growth. ,
Economists expect higher overall Gross Value Added (GVA) growth in the next fiscal, driven by lower spending on subsidies as well as stagnant agriculture sector growth at around 4% and strong services growth, driving overall GVA growth. Combines. of 7%, down from a potential 8.5% in FY22. FY23 GDP growth is seen at 8.2%, down from 9.3% in FY22.
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