Moody's cuts India's GDP growth forecast to 7.7% in 2022
This is the third cut in India's GDP growth forecast by Moody's this year.
This is the third cut in India's GDP growth forecast by Moody's this year.
India’s GDP growth is expected to slowdown, but remain higher than other emerging market economies and highest among major countries, the ministry says.
The ongoing conflict in Ukraine, higher commodity prices and negative spillover effects from monetary tightening in the US have deteriorated the growth outlook.
Sales tax collection, retail activity and PMIs suggest solid momentum, but high oil prices and supply distortions remain a drag on growth, Moody's says.