Goldman Sachs has revised upwards the growth estimate for India by 30 basis points (bps) to _______ for the calendar year (CY) 2023, given the boost in services export and a lower merchandise import.

Solution

   Goldman Sachs has revised upwards the growth estimate for India by 30 basis points (bps) to 6.3 per cent for the calendar year (CY) 2023, given the boost in services export and a lower merchandise import.    However, it kept its forecast for CY24 unchanged at 6.3 per cent.    The global investment banker also revised its earlier forecast for FY23 and FY24 by 30 bps and 10 bps to 6.9 per cent and 6.4 per cent, respectively.      In YoY terms, the Q2-Q4 CY23 GDP growth forecast is 6.5 per cent, 5.9 per cent, and 8.1 per cent, respectively.