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CRISIL Slashes India’s FY23 GDP Growth

Published on November 23, 2022
Current Context: The credit rating agency, CRISIL, lowered India’s GDP growth forecast for 2022-23.
CRISIL Slashes India’s FY23 GDP Growth
  • CRISIL reduced India’s expected GDP growth rate from 7.3% to 7.0% for FY23.
  • The rating agency further added that the growth of India’s GDP will slow significantly to 6% in FY24.
  • According to CRISIL, the global slowdown impacting exports and industrial activity was cited as the primary reason behind the cut.
  • The agency also observed that long-term growth movements indicated India’s growth cycles to be remarkably synchronized since the 2000s with those of the advanced economies.
  • CRISIL is a credit rating agency that was established in 1987 with its headquarters in Mumbai. The current CEO of the company is Amish Mehta.


Q.1 According to the credit rating agency CRISIL, what will be India’s expected GDP growth rate for FY23?
a. 7.3%
b. 7.0%
c. 6.5%
d. 6.0%
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