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Moody’s lowers India’s GDP forecast for CY22 to 9.1%

Rating agency Moody’s has revised downwards the economic growth forecast of India by 40 basis points to 9.1 per cent in the Calendar Year 2022 (CY2022), due to adverse effects of the Russia-Ukraine.

Sumit Arora Published On March 19th, 2022 Leave a comment

Rating agency Moody’s has revised downwards the economic growth forecast of India by 40 basis points to 9.1 per cent in the Calendar Year 2022 (CY2022), due to adverse effects of the Russia-Ukraine conflict on the global economy. Earlier in February 2022, Moody’s estimated India’s GDP in CY2022 to 9.5 percent. Moody’s has projected India’s GDP growth forecast for the Calendar Year (CY) 2023 at 5.4 percent.

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Moody’s, in a statement, said India is particularly vulnerable to high oil prices given that it is a large importer of crude oil. Because the country is a surplus producer of grain, agricultural exports will benefit in the short term from high prevailing prices.

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Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.