S&P Global raises India's FY24 GDP growth forecast by 40 basis points to 6.4%
National
S&P Global Ratings raised India's gross domestic product (GDP) growth forecast for 2023-24 (FY24) to 6.4 per cent from 6 per cent earlier. GDP growth forecast for FY25 has been cut by 50 basis points (bps) to 6.4 per cent. S&P Global said fixed investment in the country has recovered more than private consumer spending. For FY26, the agency has kept India's GDP growth forecast unchanged at 6.9 per cent. India's retail inflation hit an all-time high of 7.4 percent in July, mainly due to higher food prices. The report's projections show that the repo rate is expected to remain unchanged at 6.5 per cent at the end of FY2024. According to S&P Global, the repo rate is expected to be 5.5 percent at the end of FY25 and 5.25 percent at the end of FY26.
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