Moody’s Ratings raised India’s growth forecast for 2024 to 7.2 percent from an earlier estimate of 6.8 percent, projecting a pick-up in private consumption.
The global rating agency said on August 29 that the Indian economy is also expected to grow at a faster rate of 6.6 percent in 2025, compared to the earlier estimate of 6.4 percent.
“Global growth is stabilizing and inflation is close to the central bank’s target in most markets. We expect global growth to slow in 2024 and 2025 from 3.0% in 2023 to 2.7% and 2.5%, respectively. Although growth trends vary across countries, Moody’s expects no change in the global outlook. Said while predicting.
The Indian economy grew by 7.8 percent in the first quarter of 2024. Data for the April-June quarter will be available on August 30.
Growth is likely to slow to a five-quarter low of 6.8 per cent in the April-June quarter, a Moneycontrol poll shows.
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