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Nomura cuts 2023 India GDP forecast to how much percent amid recession fears?
A)
4.1%
B)
4.3%
C)
4.7%
D)
5.1%

Correct Answer : Option (C) - 4.7%



Nomura has cut its 2023 forecast for economic growth in India, as measured by the gross domestic product (GDP), to 4.7 percent from its earlier projection of 5.4 per cent amid recession fears and rising interest rates.
 
"Exports have started to struggle, while elevated imports are pushing up monthly trade deficits to record highs. Higher inflation, monetary policy tightening, dormant private capex growth, the power crunch and the global growth slowdown pose medium-term headwinds. 
 
Consequently, we lowered our 2023 GDP growth projection from 5.4 per cent to 4.7 per cent," wrote Sonal Varma, chief economist for India and Asia ex-Japan at Nomura in a recent co-authored note with Aurodeep Nandi..

Source : Business Standard

Published On : July 14, 2022
Category : Indian Economy
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