: Indian economy loses grip due to rate hikes dampening demand #FinanceIndia #StockMarketNEWS Indian economy loses grip due to rate hikes dampening demand New Delhi, Feb 28 (KNN) During the October-December

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Indian economy loses grip due to rate hikes dampening demand #FinanceIndia #StockMarketNEWS
Indian economy loses grip due to rate hikes dampening demand New Delhi, Feb 28 (KNN) During the October-December period, India’s economic expansion likely slowed as rising borrowing costs crimp consumption that’s a key growth driver, as per economists in a Bloomberg survey.

The Gross Domestic Product (GDP) numbers for Q3 will be released on Tuesday at 5:30 p.m. local time by the government.

Experts have said that GDP probably rose 4.7 per cent last quarter from a year ago.

That will be the slowest quarterly performance since the 4.09 per cent expansion in the three months ended March last year.

For the fiscal year from April 2022 to March 2023 economists are projecting growth of 6.9 per cent.

It is a tad below the government’s prior 7 per cent estimate and slightly higher than the International Monetary Fund’s 6.8 per cent projection. (KNN Bureau)

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