BENGALURU, April 20 Reuters India39;s economy will slow considerably this fiscal year as the global economic slowdown impedes domestic growth prospects, according to a Reuters poll, which showed inflation will remain elevated despite recent interest rate hikes.

While the expected expansion would be faster than other major economies, it will be below the longterm average.

Growth in Asia39;s thirdlargest economy was expected to slow to 6.0 in the fiscal year to endMarch 2024, unchanged from a March survey, after likely growing 6.9 last fiscal year, according to an April 1019 Reuters poll of 45 economists.

The Reserve Bank of India39;s projection was 6.5 for this fiscal year. The range of forecasts in the poll had widened from last month.

All respondents in the latest poll predicted a notable deceleration in economic growth this fiscal year, with the most optimistic forecast 6.6 and the weakest 4.4.

With the pentup demand induced technical rebound over, following the deep pandemicled contraction, India39;s real GDP is expected to slow down substantially…in FY24, said Kunal Kundu, India economist at Societe Generale.

We believe domestic demand will barely support economic activity but not drive growth. We expect public capexled infrastructure investment to be the major growth driver, while private business capex would still likely remain quite subdued.

Rate hikes from the RBI since last May are also likely to have an impact on growth this year. The central bank has…