Moody's raises India's GDP forecast to 6.7% for 2023

By siliconindia  |  Friday, 01 September 2023, 11:57:48 AM IST

Moody's raises India's GDP forecast to 6.7% for 2023
Global rating agency Moody's has raised India's growth forecast to 6.7 percent from 5.5 percent for 2023. At the same time, though, it has lowered the GDP forecast for 2024 from 6.5 percent to 6.1 percent.
"Since the second quarter outperformance 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 recognize further upside risk to India’s economic growth performance," it said on Friday.
Moody's 6.7 percent growth forecast for 2023 is slightly higher than RBI's projection of 6.5 percent 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 percent for the April-June period of 2023-24.
Source: IANS

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