India's GDP 2022: India's GDP Growth forecast cut to 7 percent by FICCI Survey

India's GDP 2022: India's GDP Growth forecast cut to 7 percent by FICCI Survey

Daily Current Affairs   /   India's GDP 2022: India's GDP Growth forecast cut to 7 percent by FICCI Survey

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Category : Business and economics Published on: July 23 2022

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  • The Federation of Indian Chambers of Commerce and Industry (FICCI) released its quarterly survey on July 21, 2022. 
  • The survey has slashed India's GDP growth forecast to 7 percent from previous 7.4 percent in Fiscal Year 2022-23.
  • FICCI, in its previous survey held in April, had estimated a 7.4 percent growth.
  • India's GDP forecast for FY 2022-23 by FICCI Survey is slower than RBI's projection of 7.2 percent. 
  • The survey noted that the war in Ukraine is likely to keep inflation high and dent consumer demand.
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