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Economy Will Get Back On Track Fast, Moody’s Estimates Gdp Growth At 9.3 Percent – India Gdp Growth

Business Desk, Amar Ujala, New Delhi

Published by: Deepak Chaturvedi
Updated Thu, 25 Nov 2021 04:07 PM IST

Summary

Moody’s Report on India GDP Growth: Rating agency Moody’s Investors Service has said in its new report that the Indian economy is back on track at a fast pace. The rating agency has projected GDP growth for the fiscal year 2022 at 9.3 per cent.

Rating agency Moody’s Investors Service has said in its new report that the Indian economy is back on track at a fast pace. The rating agency has projected GDP growth for the fiscal year 2022 at 9.3 per cent. Whereas in the financial year 2023, the country’s GDP growth is said to be 7.9 percent. It has been said in the report that the rapid pace of corona vaccination in the country will prove to be helpful for India’s return to economic activities.

The positive effect of accelerating vaccination
Moody’s analyst Shweta Patodia said that the rapid pace of the vaccination campaign against Corona in India is accelerating economic growth. The report said that India has recently achieved record immunization targets. After the second wave, the pace of vaccination program in India has accelerated.

Another wave of corona will be harmful
In this report released by Moody’s, it has also spoken on the possibility of the next wave of Corona. It said, however, that if the country faces another wave of COVID-19, there will be a risk of a fall in consumer sentiment. Due to this, economic activity and demand may get jolted.

Economy will grow with increase in investment
While raising the country’s GDP growth estimate to 9.3 percent, Moody’s said that the economy is seeing a positive impact due to the reduction in corona cases and the pace of vaccination. Rising consumption, thrust on domestic manufacturing and better funding conditions will also support new investments. With this the economy will come back at a faster pace.

Expansion

Rating agency Moody’s Investors Service has said in its new report that the Indian economy is back on track at a fast pace. The rating agency has projected GDP growth for the fiscal year 2022 at 9.3 per cent. Whereas in the financial year 2023, the country’s GDP growth is said to be 7.9 percent. It has been said in the report that the rapid pace of corona vaccination in the country will prove to be helpful for India’s return to economic activities.

The positive effect of accelerating vaccination

Moody’s analyst Shweta Patodia said that the rapid pace of the vaccination campaign against Corona in India is accelerating economic growth. The report said that India has recently achieved record immunization targets. After the second wave, the pace of vaccination program in India has accelerated.

Another wave of corona will be harmful

In this report released by Moody’s, it has also spoken on the possibility of the next wave of Corona. It said, however, that if the country faces another wave of COVID-19, there will be a risk of a fall in consumer sentiment. Due to this, economic activity and demand may get jolted.

Economy will grow with increase in investment

While raising the country’s GDP growth estimate to 9.3 percent, Moody’s said that the economy is seeing a positive impact due to the reduction in corona cases and the pace of vaccination. Rising consumption, thrust on domestic manufacturing and better funding conditions will also support new investments. With this the economy will come back at a faster pace.

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