Anand Mahindra Praises Indians, Saying They Believe Their Country Is On The Correct Track
Anand Mahindra, the chairman of the Mahindra Group, praised Indians in a recent tweet for their optimism about the future of their nation.
Which populations believe their country is headed in the wrong direction, according to a survey published by an industrialist on November 13?
In spite of the epidemic, inflation, and geopolitical unrest, 73% of Indians believe their nation is headed in the right direction, according to a survey published on zerohedge.com.
Only the populations of Switzerland and India believe that their country’s vision is wise and sound, according to a survey that was conducted in 22 countries, including the US and UK.
While more than 60% of citizens in Poland, the United Kingdom, Belgium, Spain, the Netherlands, France, South Korea, the United States, Germany, Japan, Norway, Sweden, Canada, Ireland, and Italy believe their nation is headed in the wrong direction.
While Australia and Mexico both get 48% of the vote, 50% of Brazilians believe their nation is headed in the wrong direction.
In India, 26% of people believe that their nation is headed in the wrong direction, while 76% think the opposite.
According to Moody, growth will slow down to 4.8% in 2023 before picking up again to 6.4% in 2024.
According to Moody, the Indian economy expanded by 8.5% in the 2021 calendar year. According to official GDP estimates, the economy grew by 13.5% between April and June 2022–2023 as opposed to the 4.10% growth recorded between January and March. At the end of this month, the GDP data for the September quarter would be made public.
The RBI’s tolerance ceiling of 6% for inflation has been exceeded for the majority of this year, according to Moody’s, which stated that the devaluation of the rupee and rising oil prices continue to push inflation higher.
As part of its strategy to contain inflation and sustain the exchange rate, Moody anticipates that the RBI would increase the repo rate by another 50 basis points or so.
The IMF reduced its prediction for India’s growth from 7.4% to 6.8%, while the World Bank reduced its estimate by 100 basis points to 6.5%. The Asian Development Bank also reduced its forecast from 7.5% to 7%.
S&P Global Ratings decreased its growth prediction from 8.7% to 7.3% for the current fiscal year. The RBI anticipates 7% GDP growth for the current fiscal year.
News Mania Desk
