Moderately brisk growth for India in coming years: Govt report
29 Nov 22 1 min read
A rapid deterioration in global growth prospects, coupled with high inflation and worsening financial conditions, has increased fears of an impending global recession.
Global slowdown may dampen India’s exports businesses outlook; however, resilient domestic demand, a re-invigorated investment cycle along with strengthened financial system and structural reforms will provide impetus to economic growth going forward, the report noted.
Hiring by companies is likely to witness an improvement in upcoming quarters driven by a rebound in new business hiring as firms continue to benefit from the lifting of the COVID-19 restrictions and optimism engendered by the vigorous sales volumes experienced during the festive season, it said.
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Private sector financial and non-financial balance sheets are healthy and incipient signs of a new personal sector capital formation cycle are visible, it added.
Fibre2Fashion News Desk (DS)
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