News > Ind-Ra Slashes Fy23 Gdp Forecast To 7-7.2% Citing Ukraine War

Ind-Ra Slashes Fy23 Gdp Forecast To 7-7.2% Citing Ukraine War

CNBC TV18 | 30/03/2022 08:23 PM | Click to read full article

India Ratings has lowered its GDP growth forecast for FY23 to 7-7.2 percent, from 7.6 percent earlier citing the rising uncertainty over the Russia-Ukraine war and the resultant dampening of consumer sentiment.

Since the duration of the war continues to be uncertain, in the first scenario crude oil prices could remain elevated for three months, and in the second case for six months, Ind-Ra said.