India's economy will slow considerably this fiscal year as the global economic slowdown impedes domestic growth prospects, according to a Reuters poll, which showed inflation will remain elevated despite recent interest rate hikes.
While the expected expansion would be faster than other major economies, it will be below the long-term average.
All respondents in the latest poll predicted a notable deceleration in economic growth this fiscal year, with the most optimistic forecast 6.6% and the weakest 4.4%. Rate hikes from the RBI since last May are also likely to have an impact on growth this year. The central bank has increased rates by 250 basis points and is now expected to remain on anThis is despite inflation remaining well above the RBI's 4.0% medium-term target.
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