Indias Economic Growth Projected By Moodys Projection

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26 November 2021 Current Affairs:Moody’s Investors Service stated on November 25, 2021, that India’s growing vaccination rate, strong public expenditure, and cheap borrowing rates are supporting the optimistic outlook for the business sector and non-financial enterprises.

Highlights:

  • Moody’s now predicts that India’s economic growth will accelerate. In the fiscal year 2021-22, India’s GDP will grow by 9.3 per cent.
  • GDP will grow by 7.9 per cent in the fiscal year 2023. Moody’s underlined in the research that credit fundamentals are favourable for Indian corporations in the event of a prolonged economic recovery. 
  • It emphasises that rated firms’ earnings will rise due to rising commodity prices and strong customer demand. According to Moody’s, India’s consistent progress in coronavirus immunisation would enable a prolonged rebound in economic activity.
  • Steel and cement consumption will be boosted by the government’s increased infrastructure investment.
  • Furthermore, increased demand, favourable financing circumstances, and India’s push for local manufacturing would encourage new investments.
  • Moody’s is Moody’s Corporation’s bond credit rating division. It signifies the company’s traditional line of operation and historical name. It was also included in the Fortune 500 list in 2021.

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