Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Thu, 24 Feb 2022 03:00 PM IST
Summary
Moody’s Investors Ratings Ups GDP Growth Forecast: Rating agency Moody’s Investor Service has raised India’s GDP growth forecast for the year 2022 to 9.5 per cent. Significantly, Moody’s had earlier projected a growth rate of 7 percent. It has been said in the released report that the country’s economy is recovering properly from the impact of Corona.
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Expansion
Estimated 5.5 percent for 2023
According to the report released by the ratings agency on the Indian economy, the GDP growth forecast for 2023 has been retained at 5.5 percent. It has been said in the report that after the beating of Corona, the Indian economy is making a rapid comeback. Moody’s estimate is 60 basis points higher than RBI’s estimate. Explain that the central bank has projected the Indian economy to grow at the rate of 7.8 percent in 2022-23.
Said this big thing in his report
Moody’s said in its report that the growth rate could be 8.4 percent in FY23 and 6.5 percent in FY24. In its Global Macro Outlook 2022-23 report, Moody’s has said that sales tax collection, retail activity and PMI in India indicate strength. However, rising fuel prices and supply constraints can have a negative impact on the economy.
Fitch Ratings expressed this estimate
Along with Moody’s, Fitch Ratings also said on Thursday that the Indian economy is making a rapid comeback after facing the outbreak of the Corona epidemic. However, according to Fitch, the country’s medium-term debt remains uncertain. Fitch has projected India’s real GDP growth at 10.3 per cent in the next fiscal and 8.4 per cent in 2021-22. Fitch said in its report that physical consolidation may be slower than expected based on our earlier budget presented on February 1, 2022.