“Even as we expect a mild slowdown in Asian EM economies, we generally see solid domestic demand growth and a pick-up in exports to drive robust growth, with India, Indonesia, the Philippines and Vietnam in the lead,” the global rating agency noted in a release.
The high-level committee, which was set up in September last year to suggest ways to hold simultaneous elections, is likely to submit its report to President Droupadi Murmu this week.
The State Bank of India s (SBI) research Ecowrap believes that the GDP growth for the December quarter of the fiscal year 2024 (Q3FY24) is likely to be 6.8 percent, assuming no changes to the base figures.
The finance ministry in its economic review before the budget has projected Indian economy to grow close to 7% in FY25. The multilateral institution projected Indian economy to grow 6.7% in FY24. The first advance estimate released by the government earlier this month pegged FY24 growth at 7.3%.
The Reserve Bank of India left its benchmark rates unchanged for the fifth straight session as policymakers assessed that the impact of the past rate hikes are yet to be fully felt on the economy, and the bank maintained a hawkish stance citing the risk of food price shocks derailing the disinflation process.