The Reserve Bank of India (RBI), last week, pegged the domestic growth rate at 7% for 2022-23. (File) Goldman Sachs expects India's economic growth to slow to 5.9% next year, from an estimated 6.9% growth in 2022, as the boost from the post-Covid reopening fades and monetary tightening weighs on domestic demand.
"We expect growth to be a tale of two halves in 2023, with a slowdown in the first half (due to dwindling reopening effects)," Santanu Sengupta, India economist at Goldman Sachs, said in a note on Sunday.
The forecast is more hawkish than the market consensus of 6.50%.
Santanu Sengupta pegs the USD/INR at 84, 83, and 82 over 3-, 6- and 12-month horizons, respectively, compared with 81.88 currently.
Source: NDTV
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