S&P Global retains India’s 2022-23 growth at 7.3%

S&P Global retains India’s 2022-23 growth at 7.3%: S&P Global Ratings has retained economic growth projection of India at 7.3% in the current fiscal. S&P has also predicted that inflation is likely to remain above the Reserve Bank of India’s upper tolerance threshold of 6% till the end of 2022.

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Reason: The external environment has soured for economies in the region and higher global interest rates will exert pressure on central banks.

While, OECD has projected India’s GDP growth rate 6.9% for FY23.