scorecardresearchReforms will spur strong growth in CY22 and CY23, says ICICI Securities

Reforms will spur strong growth in CY22 and CY23, says ICICI Securities

Updated: 25 May 2022, 10:33 AM IST
TL;DR.
  • India’s real GDP grew 8.3 percent in the calendar year 2021 (CY21), restoring India’s status as the fastest-growing economy among the G20, which is the group of the world’s 20 largest economies, said ICICI Securities. 
ICICI Securities estimates that the fiscal deficit in FY23 will be only 5.6 percent of GDP (much lower than the official estimate of 6.2 percent of GDP) as direct tax revenues in FY22 have already exceeded the FY23 projections. Photo: Pixabay

ICICI Securities estimates that the fiscal deficit in FY23 will be only 5.6 percent of GDP (much lower than the official estimate of 6.2 percent of GDP) as direct tax revenues in FY22 have already exceeded the FY23 projections. Photo: Pixabay