RBI imposed penalty on two banks

The trend of cheap loans is expected to continue in this financial year. Along with this, the brokerage house said that India’s Gross Domestic Product (GDP) growth rate can be 8.2 percent in 2022-23. The brokerage company has said in its outlook for the new year that things will be normal in India next year and growth will pick up,

With the rise in inflation, the Reserve Bank will increase the rates

The brokerage company said that the core inflation will increase to 5.6 percent in the next financial year. “Due to this, the Reserve Bank of India may increase the repo rate by one percentage point in 2022-23 after a long pause.” While the current account deficit will increase next year, although it will remain within the critical range of 2.5 percent.

economy will be back on track soon

Bank of America said that India had entered 2021 with a very positive outlook and the economic growth rate was improving, but the second wave of the epidemic hit the road and the recovery was derailed. Due to this there was a supply crisis, which also saw pressure on the prices. The Bank of America report said, “We believe that the year 2022 will be a normal year for India. The US brokerage company said that lower vaccination rates and the redesign of Kovid-19 could create uncertainty for Omicron growth. Due to the lower base effect, the growth rate will be lower than the 9.3 percent in 2021-22.

How will the sector perform?

Talking about various sectors, Bank of America estimates that the growth rate of agriculture, forestry and fisheries sector will be 3.5 percent in the next fiscal year. This is less than four per cent of the current financial year. “Similarly, the growth of the industry sector is expected to decline from 10 per cent to 7 per cent, in the services sector from 9 per cent to 7.9 per cent.”

What is the estimate of other institutions

ADB has retained India’s growth forecast for the fiscal year 2022-23 at 7.5 per cent with domestic demand expected to return to normal levels. At the same time, Fitch has increased its growth forecast for the next year i.e. 2022-23 from 10 percent to 10.3 percent. At the same time, the Reserve Bank has retained the GDP growth forecast for this financial year at 9.5 percent. According to the Reserve Bank, GDP growth can be 6.6 percent in the third quarter of this financial year. At the same time, the economy can grow at a pace of 6 percent in the fourth quarter. At the same time, the growth in the first quarter of the next financial year can be 17.2 percent and in the second quarter the growth can be 7.8 percent.

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