You are here: Home » Economy & Policy » News
Manufacturing PMI slips to 50.8 in May, marking steepest fall in 10 months
Business Standard

Moody's Investors Service pegs India's GDP growth at 9.3% in FY22

The agency estimated India's economic growth at 9.3 per cent in the financial year ending March 2022 and 7.9 per cent in FY23

Moody's Investor Service | GDP forecast | Gross Domestic Product (GDP)

Press Trust of India  |  New Delhi 


Moody's Investors Service on Tuesday pegged India's GDP growth at 9.3 per cent in the current fiscal ending March 2022 and 7.9 per cent in FY23.

"The reimposition of lockdown measures along with behavioural changes on fear of contagion will curb economic activity, but we do not expect the impact to be as severe as during the first wave.

"We expect a decline in economic activity in the April-June quarter, followed by a rebound, resulting in real, inflation-adjusted GDP growth of 9.3 per cent in the fiscal year ending March 2022 and 7.9 per cent in fiscal 2022-23," it said.

India's economy contracted by 7.3 per cent in fiscal 2020-21.

The pandemic, it said, will leave new economic scars and deepen pre-pandemic constraints.

"Over the longer term, we expect real GDP growth to average around 6 per cent," it said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Subscribe to Business Standard Premium

Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!

Insightful news, sharp views, newsletters, e-paper, and more! Unlock incisive commentary only on Business Standard.

Download the Business Standard App for latest Business News and Market News .

First Published: Tue, June 01 2021. 11:52 IST