Moody’s projects a positive 13.7 per cent growth for India in FY 22

Global rating agency Moody’s has revised India’s growth projection for the current financial year (FY22) from its earlier estimate of 10.5 per cent to 13.5 per cent. Moody’s has mentioned that Indian economy has rebounded quickly from the stringent lockdowns due to which the country experienced steepest fall in its GDP in the second quarter of 2020.

Even the agency has also lowered its earlier estimation of contraction in Indian economy from 10.6 per cent to 7 per cent. The revised estimates have come due to growing confidence in the market and normalisation of activities as soon as the COVID-19 vaccines have rolled out.