Moody’s Revises India’s GDP growth rate to 9.6%

Moody’s Investors Service has slashed India’s growth projection to 9.6 per cent for the 2021 calendar year, from its earlier estimate of 13.9 per cent. For the calendar year 2022, GDP growth is projected at 7 per cent.

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In its report titled ‘Macroeconomics India: Economic shocks from second COVID wave will not be as severe as last year’s, Moody’s said high-frequency economic indicators show that the second wave of COVID-19 infections hit India’s economy in April and May.

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