Moody’s on Thursday forecasts India’s growth for the next fiscal year starting April 1 from a previous estimate of 10.8% to 13.7, backed by normalization of activity and increased confidence in the market through the deployment of the COVID-19 vaccine. Raised to%. In the current fiscal year, US-based rating agencies expect the economy to shrink by 7%, lower than the previous estimate of 10.6%.
Genefang, Managing Director of Moody’s Investors Services Associate (Sovereign Risk), said: “The current forecast is that the economy will shrink by 7% in the current fiscal year ending March 2021. Of activity and basic effects.”
The tremendous backlash has taken in the view that activity will continue to recover, along with increased confidence in the market that vaccine deployments and activity are returning to normal, Fang said in India’s credit hosted by Moody’s and its India. Affiliate ICRA mentioned at an online conference on Outlook 2021. Aditi Nayar, Principal Economist at ICRA, said he expects growth of 0.3% in the third quarter of the current fiscal year (October-December).
The ICRA expects the Indian economy to shrink 7% in the current fiscal year and growth to recover to 10.5% in the next fiscal year starting April 1. “The recession in India is over,” she said, and if government capital spending increases, budget announcements will be made and vaccination will be promoted.
Moody’s projects are expected to grow 13.7% in 2010 and shrink 7% this year
Source link Moody’s projects are expected to grow 13.7% in 2010 and shrink 7% this year