Moody’s Investors Service has retained India’s growth forecast for the calendar year (CY) 2021 at 9.6 per cent, in its August update to ‘Global Macro Outlook 2021-22’ report. The GDP growth forecast for calendar year 2022 is retained at 7 percent. In India, economic activity is picking up alongside a gradual easing of restrictions that were implemented in response to the second wave. And there is further upside to growth as economies around the world progressively reopen.
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