{"id":478005,"date":"2022-03-23T11:15:47","date_gmt":"2022-03-23T05:45:47","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=478005"},"modified":"2022-03-23T13:07:07","modified_gmt":"2022-03-23T07:37:07","slug":"fitch-slashes-fy23-india-growth-forecast-to-8-5-on-high-energy-prices-inflation","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/fitch-slashes-fy23-india-growth-forecast-to-8-5-on-high-energy-prices-inflation\/","title":{"rendered":"Fitch slashes FY23 India growth forecast to 8.5% on high energy prices, inflation"},"content":{"rendered":"<p>Rating agency Fitch on Tuesday slashed India&#8217;s growth forecast for the next fiscal to 8.5 per cent from 10.3 per cent, citing soaring energy prices and rising inflation on account of the Russia-Ukraine war.<\/p>\n<p>It has revised upwards the GDP growth forecast for the current fiscal by 0.6 percentage points to 8.7 per cent. &#8220;However, we have lowered our growth forecast for FY 2022-2023 to 8.5 per cent (-1.8 pp) on sharply higher energy prices,&#8221; Fitch said. For 2023-24, it is estimated at 7 per cent. In its Global economic Outlook-March 2022, Fitch said the post-COVID-19 pandemic recovery is being hit by a potentially huge global supply shock that will reduce growth and push up inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rating agency Fitch on Tuesday slashed India&#8217;s growth forecast for the next fiscal to 8.5 per cent from 10.3 per cent, citing soaring energy prices and rising inflation on account of the Russia-Ukraine war. It has revised upwards the GDP growth forecast for the current fiscal by 0.6 percentage points to 8.7 per cent. &#8220;However, we have lowered our growth forecast for FY 2022-2023 to 8.5 per cent (-1.8 pp) on sharply higher energy prices,&#8221; Fitch said. For 2023-24, it is estimated at 7 per cent. In its Global economic Outlook-March 2022, Fitch said the post-COVID-19 pandemic recovery is being [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,244,144],"tags":[],"class_list":["post-478005","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/478005","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=478005"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/478005\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=478005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=478005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=478005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}