Citing a better-than-estimated global growth outlook, lower global crude oil prices and robust services exports, a foreign brokerage has revised upwards its India growth forecast by 70 bps to 6.2 per cent for the current fiscal. House economists at Swiss brokerage UBS have already revised global growth projections upwards by nearly 50 bps to 2.6 per cent in 2023, led by China's early reopening, resilience in European data and revision in the US growth numbers. The domestic economy has clipped at 7.2 per cent in FY23, 20 bps higher than what was forecast earlier. On the FY23 GDP growth of 7.2 per cent, UBS Securities India chief economist Tanvee Gupta-Jain said the same was driven by the much higher than expected Q4 growth, which printed in at 6.1 per cent. The consensus expectation is 6 per cent growth in FY24 while the Reserve Bank pegs it at 6.5 per cent. There are upside risks to the country's growth forecast on the better-than-estimated global growth outlook, lower global oil
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