The year 2023 will probably be characterised by a milder global slowdown than earlier anticipated but the trajectory remains unpredictable, stated RBI.

The Union Budget 2023-24’s emphasis on capital expenditure is expected to crowd-in private investment, strengthen job creation and demand, and raise India’s potential growth.

Reserve Bank released the February 2023 issue of its monthly Bulletin.

The year 2023 will probably be characterised by a milder global slowdown than earlier anticipated but the trajectory remains unpredictable, stated RBI.

In India, domestic consumption and investment stand to benefit from stronger prospects for agricultural and allied activities, strengthening business and consumer confidence, and strong credit growth. Supply responses and cost conditions are poised to improve even though inflation witnessed a rebound in January.

The Union Budget 2023-24’s emphasis on capital expenditure is expected to crowd-in private investment, strengthen job creation and demand, and raise India’s potential growth.