India’s GDP to Maintain 9% Growth Rate in FY 2022-23: ICRA

ICRA has announced that the Indian economy is more likely to maintain the GDP growth of 9 percent in the next financial year as well. The agency said in its report that the third quartered of this financial year has not met the MPC’s criteria for durable and sustainable growth. 

The restrictions introduced in many states due to the increasing cases of new Covid variant, Omicron can also interrupt the economic recovery in the fourth quarter of this financial year. 

The Chief Economist at the ICRA has said that the growth rate of the economy is expected to be 9 percent in FY2023. Aditi Nayar, the Chief Economist also said that the growth in the next financial year can be more meaningful and tangible.