Katya Naidu29 May 2023, 08:00
In a webinar titled ‘Indian Economy FY24 — A Prognosis’, economists at Bank of Baroda said that they do not expect any rate action in the first half of FY24, but believe that the Reserve Bank of India (RBI) may effect two rate cuts amounting to a 50 basis point cut in the second half of the financial year. They expect India’s GDP to grow anywhere between 6-6.5% in FY24 which is slightly higher than IMF’s predictions of 5.9%. However, a report by SBI Ecowrap expects the GDP growth at 7.1% – in line with NSSO’s predictions of 7% growth.