FICCI cuts India’s growth forecast to 7% in FY23
- India’s leading industry body, the Federation of Indian Chambers of Commerce and Industry (FICCI) has lowered the growth rate of Indian economy to 7% in fiscal FY2022-23,
- Earlier this estimated at 7.4%.
- The main reason for slower growth projection is the war in Ukraine which is likely to keep inflation high and reduction in consumer demand.