GDP India may grow at 9.5 percent during the current calendar year from 7 percent predicted earlier, Moody's Investors Service said Thursday, citing a stronger-than-expected economic recovery in the post-Covid period from the national lockdown of 2020 and third wave of Covid.
However, the GDP growth forecast for 2023 has been retained at 5.5 percent.
This means India's growth will be 8.4 percent in the fiscal year 2022-23 while it would be 6.5 percent in 2023-24.
Last November, Moody's had forecast India's GDP to grow at 7.9 percent in the financial year 2022-23.
The government has predicted a growth rate of 9.2 percent in the current financial year ending March 31.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
