In its India Development Update, the World Bank said the revision was due to the higher resilience of the Indian economy to global shocks and better-than-expected second-quarter numbers.
India’s GDP growth: “We have retained our India growth outlook at 7.3 per cent for the fiscal 2022-23 and 6.5 per cent for the next fiscal year, although we see the risks tilted to the downside," the ratings agency underscored.
Reserve Bank of India Governor Shaktikanta Das stated in his statement on the MPC decisions that India’s real GDP growth for the financial year 2021-22 is estimated to stay at 7.2 per cent much higher than pre-pandemic levels