(Reuters) – J.P.Morgan raised its forecast for India’s annual growth by 50 basis points to 5.5% for fiscal 2024, but warned that a global economic slowdown and tighter financial conditions will still drag the economy.
The change comes after India’s economic growth accelerated to 6.1% in the March quarter, government data showed, boosted by government and private capital spending even as private consumption remained sluggish.
Â
(Reporting by Aniruddha Ghosh in Bengaluru; Editing by Janane Venkatraman)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jun 01 2023 | 10:28 AM IST
