{"id":4199,"date":"2022-10-21T17:00:00","date_gmt":"2022-10-21T11:30:00","guid":{"rendered":"http:\/\/13.235.158.174\/hfc\/?p=4199"},"modified":"2024-05-08T17:01:19","modified_gmt":"2024-05-08T11:31:19","slug":"the-indian-economy-continues-to-recover-amid-a-stuttering-global-economy-spillovers-from-external-developments-pose-risks-to-the-outlook","status":"publish","type":"post","link":"http:\/\/43.204.86.36\/hi\/the-indian-economy-continues-to-recover-amid-a-stuttering-global-economy-spillovers-from-external-developments-pose-risks-to-the-outlook\/","title":{"rendered":"The Indian economy continues to recover amid a stuttering global economy; spillovers from external developments pose risks to the outlook"},"content":{"rendered":"<p>The global economic slowdown intensified amidst high inflation, tighter financial conditions due to monetary policy tightening, geopolitical tensions, and a strict COVID containment policy in China. The IMF retained its growth forecast for 2022 at 3.2% but it revised the 2023 forecast downwards from 2.9% earlier in July to 2.7%. However, the Indian economy continues to be resilient with high-frequency data indicating a continuation of catch-up in the services sector and mixed recovery in the industrial sector, while the agricultural activity was moderately impacted by uneven rainfall. Accordingly, we retain our economic growth forecast for FY23 at 7% YoY. With respect to the elevated inflationary pressures and domestic demand holding up, the RBI hiked the repo rate by 50 bps to 5.90%. We see the terminal repo rate at 6.5% in the current policy tightening cycle.<\/p>","protected":false},"excerpt":{"rendered":"<p>The global economic slowdown intensified amidst high inflation, tighter financial conditions due to monetary policy tightening, geopolitical tensions, and a strict COVID containment policy in China. The IMF retained its growth forecast for 2022 at 3.2% but it revised the 2023 forecast downwards from 2.9% earlier in July to 2.7%. However, the Indian economy continues [&hellip;]<\/p>","protected":false},"author":1,"featured_media":3973,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,6],"tags":[],"class_list":["post-4199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-macro-economic-monitor","category-research-reports","macro-economic-monitor","research-reports"],"acf":[],"_links":{"self":[{"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/posts\/4199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/comments?post=4199"}],"version-history":[{"count":3,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/posts\/4199\/revisions"}],"predecessor-version":[{"id":4204,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/posts\/4199\/revisions\/4204"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/media\/3973"}],"wp:attachment":[{"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/media?parent=4199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/categories?post=4199"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/43.204.86.36\/hi\/wp-json\/wp\/v2\/tags?post=4199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}