Global environment gloomier, India to grow at 6% next year: CRISIL

The global environment has become "gloomier" due to high inflation, rate hikes, and geopolitical events. India is expected to grow at 6 per cent in 2023-24, rating agency CRISIL said on Thursday.

In its report titled, "Rider in the storm: Tracing India's growth in a volatile world", CRISIL said that the risks to inflation are "tilted upward" due to the predictions of El Nino over the next couple of months.

The picture, however, is better in the medium term. Consumer inflation in India is expected to moderate to 5 per cent on average in FY24 from 6.8 per cent in