Will there be a recession in 2023?
According to the majority (68%) of CFOs responding to the survey, a recession will occur during the first half of 2023. No CFO forecast a recession any later than the second half of next year, and no CFO thinks the economy will avoid a recession. The CNBC CFO Council Q2 survey is a sample of the current outlook among top financial officers.
Will India’s economic growth rate dip further in FY23?
For India, it brought down the growth projection for FY23 (April 2022-March 2023) to 7.5% – from 8.7% projected in January 2022. The RBI too has lowered India’s growth projection from 7.5% in April to 7.2% in May and June. The further dip is likely for both internal and external factors.
What is India’s Economic Outlook for 2022-23?
IMF, in its latest July update on the world’s economic outlook (WEO), has brought down India’s growth forecast for 2022-23 to 7.4%, which is slightly higher than the 7.2% projected by the usually conservative RBI.
What does the recession mean for India’s IT industry?
What Recession Means For India & Its IT Industry. The global IT services market is predicted to reach $1.031 trillion, with the growth rate slowing to 3.8% in 2019, compared to 6.7% last year. Out of the total IT services market, it is estimated that 30% of that is outsourcing work.