Guwahati: India is likely to witness economic growth in the range of 6.5 percent to 7.1 percent during the current financial year 2022-23, Deloitte India said in a report.

It is mainly due to rising inflation and expectations of a global slowdown. According to media reports, Deloitte expects India to post a 6.5-7.1 percent growth during 2022-23 and 5.5-6.1 percent the following year contingent on the revival of the global economy and improving economic fundamentals.

Deloitte said, "The seemingly unending saga of global economic uncertainties has begun to negatively impact India's main drivers of growth. So volatile is the current economic environment that if one is looking for certainties from the recent data releases, it is unlikely that a consistent outlook will emerge."

The constant rise in inflation, which has remained above RBI's tolerance limit of 6 percent for the past 10 months, has been a concern for the Government, despite the central bank raising repo rate four times in the last six months.

In addition to this, the dollar has constantly been rising while in contrast the rupee has threatened to touch new lows, leading to costlier imports.

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