Moody’s raises India GDP growth forecast
Global rating agency Moody’s Ratings has said such things about the country’s economy, after hearing that it will be keen to invest more in India. Meanwhile, Moody’s Ratings has increased India’s economic growth rating for 2024.
Moody’s Ratings said on Thursday that India’s economic growth rate could rise to a pace of 7.2 percent in 2024. While the country’s economic growth is estimated to be 6.6 percent in 2025. This is higher than its previous forecast.
People’s consumption in the country increases
The rating agency released the August edition of its Global Outlook 2024-25. In this regard, Moody’s Ratings has said that if private consumption increases like this, then India’s economic growth rate can be even higher.
read this too
The Moody’s report says that from a macroeconomic perspective, the Indian economy is in a good position due to the combination of solid growth and declining inflation.
The rating agency estimates India’s GDP growth this year at 7.2 percent, up from 6.8 percent earlier. The country’s economic growth in 2025 is estimated at 6.6 percent, up from 6.4 percent earlier.
This is how the country’s economic growth looks like.
Despite the continuation of a tight monetary policy and the government’s efforts towards fiscal empowerment, the economy’s growth rate in the first quarter of 2024 has been 7.8 percent. Moody’s said there are signs of improvement in rural demand due to better prospects for agricultural production amid above-normal rainfall during the monsoon season.
A Fitch report on India’s credit rating has recently come out. In that, Bharat Key Loan Credit has been maintained in the BBB category. A country’s credit rating plays an important role in determining GDP estimates.
