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Wednesday, May 22, 2024

India’s growth estimate is upgraded by Moody’s to 6.8%

<p>Based on “stronger-than-expected” economic statistics, global rating agency Moody’s increased India’s growth projection for the 2024 calendar year to 6.8% on Monday and said that the nation would continue to expand at the quickest rate among the G20.</p>
<p><img decoding=”async” class=”alignnone wp-image-474345″ src=”https://www.theindiaprint.com/wp-content/uploads/2024/03/theindiaprint.com-indias-growth-estimate-is-upgraded-by-moodys-to-6-8-2024-3largeimg-40624963.jpg” alt=”theindiaprint.com indias growth estimate is upgraded by moodys to 6 8 2024 3largeimg 40624963″ width=”1076″ height=”647″ title=”India's growth estimate is upgraded by Moody's to 6.8% 9″></p>
<p>According to Moody’s Investors Service’s Global Macroeconomic Outlook for 2024, the Indian economy should be able to comfortably record real GDP growth of 6-7 percent, as global headwinds are expected to lessen. The GDP is predicted to expand by 6.4% by 2025. Prior to this, Moody’s had predicted a growth rate of 6.1% for 2024.</p>
<p>India’s economy has done well, and we have raised our growth projection for 2024 to 6.8% from 6.1% due to better-than-expected statistics in 2023. Over our prediction horizon, India is anticipated to continue to develop at the highest rate among the G-20 countries, according to Moody’s.</p>
<p>The fourth quarter of 2023 saw an 8.4% year-over-year rise in India’s real GDP, translating into a 7.7% growth for the whole year.</p>

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