India Ratings increased tension, reduced GDP growth to 7 percent

new Delhi. India’s growth forecast has suffered a setback. Another rating agency has slashed India’s GDP estimate. India Rating Agency has reduced India’s GDP growth forecast to 7 percent. India Rating Agency has lowered India’s growth forecast for the next fiscal from 7.0 per cent to 7.2 per cent. Earlier, ICRA had also reduced India’s GDP estimate.

The ICRA rating agency on Tuesday lowered India’s GDP growth forecast for the next financial year from 8 to 7.2 per cent. Now India Ratings has reduced it to 7 per cent. Earlier, RBI had projected GDP to be 7.8 per cent in the next financial year. Today, India Ratings gave its estimate and said that the economy is being affected due to the ongoing war between Russia and Ukraine. This is having an impact on the global economy and India’s economy as well. Due to which commodity prices and consumer inflation are rising.