FinanceInFocusNews

India’s Growth Predictions now Touched 8.8% : Moody’s

Rating agency Moody's has lowered India's economic growth forecast for 2022 by 30 basis points to 8.8 per cent from its earlier projection of 9.1 per cent announced in March.

Sharing is caring!

For the calendar year 2023 the rating agency has maintained its India’s GDP growth forecast unchanged at 5.4 per cent.

“We have lowered our calendar-year 2022 growth forecast for India to 8.8 per cent from our March forecast of 9.1 per cent, while maintaining our 2023 growth forecasts at 5.4 per cent,” Moody’s said in a report.

In its update to Global Macro Outlook 2022-23, Moody’s Investors Service Moody’s said the rise in crude oil, food and fertiliser prices will weigh on household finances and spending in the months ahead.

Rate hike to prevent energy and food inflation from becoming more generalized will slow the demand recovery’s momentum, the rating agency said.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

Related Articles

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button
%d bloggers like this: