meine Tewotateus <0 ea kao sent sneer waren ‘Tue Ecoxomic TMes | News Enolsh Eton» | Ted's Paper Home ETPrime Markets News Industiy RISE Polkics Wealth Mutual Funds Tech 3 Opinion NRI Panache EF NOW More ~ let Morning retPodcact.Newsblogs Economy + Inaustyy Poltics Company's Oefence + More+ sr mepce on Nomar tere moses India's optimism misplaced, says Nomura, sharply moderates GDP growth forecast to 5.2% in FY24 Synopsis ‘According to the brokerage firm, indian policymakers are “misplaced” about their ‘optimise on the country’s growth prospects. After a wok long meetings with policymakers, corporates, commercial banks and peltcal experts, its economists sad it F¥23 GDP growth estimate is a 7 per cent - at par withthe RBI's revised down forecast but itexpects a sharp moderation’ to 52 per contin FY2% 41, Rat burns SLO billion to Popular in Economy arrest rupee's slump; forex at fd tee eer India’s growth rate for FY24 is likely to ‘yearlow ‘witness a sharp moderation to 5.2 per cent as compared to FY23, said 2 teagan Lp Japanese brokerage Nomura. Teleases concept note on 4 Nomura Cone nk Dial carey According to the brokerage firm, Indian eieceed! Indiaererlae han policymakers are “misplaced” about 3. thers still on course for 7% | oo rT their optimism on the countrys growth grow sayscEA prospects. After a week-long meetings with policymakers, corporates, commercial banks and political experts, its A, Styrocketng ves rut economists sai its FY23 GDP growth estimate isat7percent-atparwith the“ mwniconnenmentad [> RBI's revised down forecast - but it expects a "sharp moderation’ to 5.2 per cent in FY24 guarantee scheme for I 4 I “While we broadly agree with our interlocutors on the growth prospects in. ‘startups: FY23, we believe the optimism in FY24 may be misplaced and that the spillover effects from the global slowdown are being underestimated," PTI quoted economists Sonal Verma and Aurodeep Nandi assaying ror neon news 00 ‘The RBI has hiked repo rate by 190 basis points since May to tame inflation and is expected to do more, especially amid faster rate tightening by the US Fed, which is bound to impact growth. ‘The economy grew at 4 per cent in FY20 in a multi-year low. The estimated slowdown in growth in FY24 will come ahead of the next general elections. Indian policymakers have frequently spoken about the need to have asustained growth of over 7 per cent for achieving long-term economic ambitions. ‘The brokerage said the mood in the country is "relatively positive with risks seen emanating from weaker global demand, and added that domestic recovery is getting broad-based as seen through pick-up in investments and higher credit growth, It recommended policy vigilance amid the global headwinds, and underlined that macro stability should be the priority over growth. The brokerage said it expects the RBI to go for a 35 basis points hike at the December meeting and deliver a 25 basis points increase in February to take the repo rate to 6.50 per cent. It expects inflation to average at 6.8 per cent in FY23,a tad above the RBI's 6.7 per cent estimate, and cool down to 53 per cent in FY24, On the fiscal consolidation front, it said expenditure cuts would be necessary to meet the 64 per cent fiscal deficit target for FY23 and added that it is “circumspect” about a sub-6 per cent target for FY24. ‘The brokerage said it expects the current account deficit to widen, with a ‘weaker currency to follow. It said market participants believe there is no "line the-sand’ for either forex reserves which stood at over USD $30 billion, ot the level of the rupee, (With inputs from PT) (Catch all the Business News, Breaking News Events and Latest News Up more O Search News, Stock Quotes & NAVIn Case You Missed It Sensex Teday | Maharashtra Rains News LIVE | Gold Rate Today | Shimron Hetmyer | Small Saving Schemes | HP Election 2022 Top Calculators stand lator | Time Caleulstor | aM lst | GPA Cal in Caleulstor | Income Tax Caleulator | Age ‘Top Searched Companies 12 | Adar Greon Share Price | Dr Redkys hare rice | Federal Bank Share Price | MAF Shar Top Commodities Cotton ate | Crudeoi Rate | Nickel Rate | Zinc Rate Gold Rate In Kokata Top Prime Articles Tata Croup Has Size And Divers. | Concent sAndsingleS. | As ins Vicant Nears Commissio... | Craft Scandal Casts Long Shado. fo Start Your Day.. | Eve Cag Petal Cars Blusmart we Insights To Start Your Day. | Back To Ba Top Story Listing Markets | Hb Viea | Narendra Mod! | Kerala Weather | Coronavirusin Gah Top Slideshow ‘TeDitference | Beating Conventional nvestme_ | Gujarat Ambule Exports | Schaeffer nda ‘Top Trending Topics ‘onge Bonus Share tsue won Exzension | Indian Flag | Rilsionus Share ssue | Amazon Top Videos Reliance Incustres QI ResutsP.. | Nupur Sharmas Remark On Pro, | Watch Congress Athitanian Ch. | Sensex Surges Over 200 Points Goa Smrit ans Family Restaur.. | Watch Rakesh Jhunjhunwala Cee, Private Companies Smp Project Private Limbed | Glaze Trading Ina Private Limit. | AKclepius Wellness Private Limit. | Haldiram Snacks Pv Ltd Popular Articles an Born With Treacher Colins... | Good Time To Star Allocating M.. | Onwards Upwards An Investme. 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