Indian economy grew more than various experts and global agencies initially estimated for 2022-23. As per the provisional estimates released by the National Statistical Office (NSO) earlier this week, real GDP growth for 2022-23 stood at 7.2 per cent, higher than the 7 per cent projected.
Fitch Ratings forecasts India's headline inflation to decline, but remain near the upper end of the Reserve Bank of India's 2-6 per cent target band, averaging 5.8 per cent in 2023-24 from 6.7 per cent last year.
The International Monetary Fund (IMF) has said the global economy is estimated to grow less than 3 per cent in 2023, with India and China expected to account for half of global growth during the year.