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Moody’s boosts India’s economic growth forecast, growth to be 13.7% in next financial year

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Moody’s raises India’s economic growth forecast to 13.7 percent (symbolic photo)

New Delhi:

American Rating Agency Moody’sOn Thursday, increased India’s economic growth estimate for the next financial year (Growth projection) from 10.8 percent to 13.7 percent. This new estimate has been made in view of the increasing confidence in the market after the economic activity is normal and Kovid-19 vaccine comes in the market. The rating agency of the US, along with improving the estimate of the decline in the Indian economy during the current financial year, raised it to 7 percent, from its earlier 10.6 percent. That is, the Indian economy is expected to decline by seven percent during the current financial year.

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Jane Fang, assistant managing director (Savren Risk), Moody’s Investors Service, said, “Our current estimate is that the Indian economy will decline by seven percent in the current fiscal year ending March 2021 … while we are looking at Looking at normalization and the base effect, we are expecting 13.7 percent growth in the next financial year.

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At the same time, ICRA Principal Economist Aditi Nair said that she expects 0.3 percent growth in the third quarter of October to December 2020 of the current financial year. At the same time, Icra believes that the Indian economy will be down seven percent in the current financial year, while in the next financial year it will register a growth of 10.5 percent.

(This news has not been edited by the NDTV team. It has been published directly from the Syndicate feed.)

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