Categories: Economy

Moody’s Projects Indian Economy to grow 9.3% in FY22

According to Moody’s Investors Service, India’s economy will rebound in the current financial year to mark a growth of 9.3 per cent but the second Covid-19 wave has increased risks to the country’s outlook with potential longer-term credit implications. Moody’s Investors Service has projected the GDP growth rate of the Indian economy as follows:

2021-22 (FY22): 9.3%
2022-23 (FY23): 7.9%

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In terms of Sovereign ratings, Moody’s has estimated a ‘Baa3’ rating on India with a negative outlook. The economy rebounded quickly from a steep contraction in 2020, it said. But risks to India’s credit profile including a persistent slowdown in growth, weak government finances and rising financial sector risks have been exacerbated by the shock of coronavirus second wave.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.