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Crisil cuts India’s next fiscal year growth

Published on March 16, 2023

Current context: Rating Company Crisil cuts India’s fiscal growth by 100 bps at 6% amid a global economic environment. Real gross domestic product is at 7% by the rating agency.

Crisil cuts India’s next fiscal year growth
  • The FY24 fiscal by Crisil is lower than forecasted by RBI’s 6.4%. There will be moderate inflation as estimated.
  • Crisil mentions three reasons for reduction in growth of the economy- Firstly, a slow growth in terms of central banks which results in the downhill of India’s economy.
  • Secondly, the rate hikes by RBI affects the fiscal and monetary policy as well.
  • Thirdly, The crude and commodity prices are rising which will lead to inflation. The retail inflation is moderated at 5% next fiscal year and it is at 6% this year.
  • The rating of Indian economy will rise to 6.8% annually over the next five fiscal years. Under the National Industrial Pipeline next fiscal year, the targets achieved are 75% of the initial targets set.

Question: 

Q.1 Rating Company Crisil cuts India’s fiscal growth by how many basis points?
a. 100
b. 200
c. 210
d. 150
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