IMF World Economic Outlook April 2022 projects India to be the fastest growing economy at 8.2% in FY 2022 and 6.9% in FY 2023. Lending credence to these projections, the fiscal year 2022-23 has begun with strong growth momentum in economic activity as indicated by the robust performance of high-frequency indicators such as e-way bill generation, ETC toll collection, electricity consumption, and PMI manufacturing and services. Government measures to keep the prices of these commodities in check along with the recent hike in policy rates by the RBI are expected to temper inflationary pressures in the economy.
