Macro Economic Factors- March 2023

The Macro-Economic factors indicators for March 2023 are signaling at mixed picture. Going forward, with some degree of slowdown in India’s growth in FY24, monetary tightening seems off the table. The impact of recent unseasonal rains and hailstorms needs to be watched. The government’s thrust on capital expenditure, above trend capacity utilization in manufacturing, double digit credit growth and the moderation in commodity prices are expected to bolster manufacturing and investment activity. The external demand drag, protracted geopolitical tensions, tight global financial conditions and global financial market volatility pose risks to the outlook.


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