S&P Global has increased India’s growth forecast to 6.8% for Fiscal Year 2024-25

Mar 27, 2024 #Bank_PO, #BPSC, #Current_Affairs, #DSSSB, #Railway, #SSC, #UPSC, #WBPSC

S&P Global has increased India’s growth forecast to 6.8% for Fiscal Year 2024-25.
S&P Global has increased forecast by 40 basis points. It is yet lower than the forecast of 7.6% for the current fiscal.
The projection made by S&P Global is lower than RBI’s estimate of 7%.
S&P has not changed its forecast for Fiscal Years 2025-26, 2026-2027 and 2027-2028.
It has kept growth forecast for Fiscal Year 2025-26 at 6.9%, for Fiscal Year 2026-2027 at 7% and for Fiscal Year 2027-2028 at 7%.
S&P has projected robust growth for Asian emerging market economies like India, Indonesia, the Philippines, and Vietnam.