Crisil retains growth forecast for FY23 at 7.8% despite war

Crisil has reiterated its December 2021 forecast of India’s gross domestic product (GDP) growing at 7.8% in next fiscal, FY23. The research firm said the potential upside due to an early end of a mild third wave of Covid infections will be offset by the ongoing geopolitical strife stemming from Russia’s invasion of Ukraine, which is dampening global growth and pushing up oil & commodity prices.

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