Moody`s raises India`s GDP forecast to 6.7% for 2023
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Global rating agency Moody's has raised India's growth forecast to 6.7 per cent from 5.5 per cent for 2023.
At the same time though, it has lowered the GDP forecast for 2024 from 6.5 per cent to 6.1 per cent.
"Since the second quarter out performance creates a high base in 2023, we have lowered our 2024 growth forecast from 6.5 percent to 6.1 per cent. Given the robust underlying economic momentum, we also recognise further upside risk to India’s economic growth performance," it said on Friday.
Moody's 6.7 per cent growth forecast for 2023 is slightly higher than RBI's projection of 6.5 per cent for 2023-24.
India has recorded a growth of 7.8 per cent in the first quarter of the current fiscal, which was lower than RBI's projection of 8 per cent for the April-June period of 2023-24.
Tag News
Monthly Debt Market Update, September 2023: CareEdge Ratings
