S&P cuts India growth forecast for FY23 to 7.3%

S&P Global Ratings cut India’s GDP projection for the current fiscal to 7.3% from 7.8% on rising inflation and the Russia-Ukraine conflict.

S&P Global Ratings suggestions: Central banks to raise rates more than what was currently priced in, risking a harder landing which includes a larger hit to output and employment.

• World Bank: 8%
• International Monetary Fund: 8.2%
• Asian Development Bank: 7.5%
• Reserve Bank of India: 7.2%