<p>The Indian economy is expected to grow by 6 per cent in the financial year 2023-24, sharply down from the projected growth of 7 per cent in the current fiscal, S&P Global said on Monday.</p>.<p>In its quarterly economic update for Asia-Pacific, S&P Global Ratings pegged India’s economic growth for the financial years 2024-25 and 2025-26 at 6.9 per cent. The country's GDP growth is likely to accelerate marginally to 7.1 per cent in 2026-27.</p>.<p>The economic growth projection for fiscal 2023-24 is the same as announced by the credit rating agency in its previous report.</p>.<p><strong>Also Read | </strong><a href="https://www.deccanherald.com/national/north-and-central/no-direction-on-loading-rs-2000-notes-in-atms-says-fm-sitharaman-1201881.html" target="_blank"><strong>No direction on loading Rs 2,000 notes in ATMs, says FM Sitharaman</strong></a><br /><br />India will remain among the fastest growing economies in the world. The average economic growth is pegged at 7 per cent during the period 2024-2026.</p>.<p>Inflationary pressure is expected to ease. The headline retail inflation is expected to decline to 5 per cent in 2023-24 from 6.8 per cent in the current financial year.</p>.<p>“In our view, India's Consumer Price Index (CPI) inflation should moderate to 5 per cent in fiscal year 2024 (2023-24) but we also anticipate upside risks, including from weather-related factors,” S&P Global said in the report.</p>.<p>The rating agency noted in its report that the Reserve Bank of India (RBI) is likely to hike policy interest rates further due to the recent upside surprise to inflation.</p>.<p>The Monetary Policy Committee of the RBI is slated to meet in the first week of April to decide on the policy interest rate. </p>
<p>The Indian economy is expected to grow by 6 per cent in the financial year 2023-24, sharply down from the projected growth of 7 per cent in the current fiscal, S&P Global said on Monday.</p>.<p>In its quarterly economic update for Asia-Pacific, S&P Global Ratings pegged India’s economic growth for the financial years 2024-25 and 2025-26 at 6.9 per cent. The country's GDP growth is likely to accelerate marginally to 7.1 per cent in 2026-27.</p>.<p>The economic growth projection for fiscal 2023-24 is the same as announced by the credit rating agency in its previous report.</p>.<p><strong>Also Read | </strong><a href="https://www.deccanherald.com/national/north-and-central/no-direction-on-loading-rs-2000-notes-in-atms-says-fm-sitharaman-1201881.html" target="_blank"><strong>No direction on loading Rs 2,000 notes in ATMs, says FM Sitharaman</strong></a><br /><br />India will remain among the fastest growing economies in the world. The average economic growth is pegged at 7 per cent during the period 2024-2026.</p>.<p>Inflationary pressure is expected to ease. The headline retail inflation is expected to decline to 5 per cent in 2023-24 from 6.8 per cent in the current financial year.</p>.<p>“In our view, India's Consumer Price Index (CPI) inflation should moderate to 5 per cent in fiscal year 2024 (2023-24) but we also anticipate upside risks, including from weather-related factors,” S&P Global said in the report.</p>.<p>The rating agency noted in its report that the Reserve Bank of India (RBI) is likely to hike policy interest rates further due to the recent upside surprise to inflation.</p>.<p>The Monetary Policy Committee of the RBI is slated to meet in the first week of April to decide on the policy interest rate. </p>
