NEW DELHI: Moody’s Investors Service on Thursday slashed India’s economic growth projection to 8.8 per cent for 2022 from 9.1 per cent earlier, citing high inflation.
In its update to Global Macro Outlook 2022-23, Moody’s said high-frequency data suggests that the growth momentum from December quarter 2021 carried through into the first four months this year.
However, the rise in crude oil, food and fertilizer prices will weigh on household finances and spending in the months ahead. Rate hike to prevent energy and food inflation from becoming more generalised will slow the demand recovery’s momentum, it said.
“We have lowered our calendar-year 2022 growth forecast for India to 8.8 per cent from our March forecast of 9.1 per cent, while maintaining our 2023 growth forecasts at 5.4 per cent,” Moody’s said.
Bu hikaye Millennium Post Delhi dergisinin May 27, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Millennium Post Delhi dergisinin May 27, 2022 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
Dortmund beat PSG 1-0 to reach Champions League final
London's calling, but not for Kylian Mbappe.
Head, Abhishek power Hyderabad to commanding 10-wicket victory
The remorseless domination of Travis Head and Abhishek Sharma, who carved lightning fast fifties, helped Sunrisers Hyderabad mount the fastest chase of a 160-plus target en route their convincing 10-wicket win over Lucknow Super Giants in the IPL match here on Wednesday.
AstraZeneca withdraws COVID-19 vaccine
Cites surplus of available updated vaccines
Domestic automobile retail sales surge 27% to 22,06,070 units in April: FADA
Total vehicle retail sales in India rose 27 per cent year-on-year to 22,06,070 units in April as all segments, including passenger vehicles and two-wheelers, witnessed growth, industry body FADA said on Wednesday. The overall vehicle registrations stood at 17,40,649 units in April 2023.
Stock markets edge down on selling in banking, IT shares
Benchmark Sensex slipped by 45 points in highly volatile trade on Wednesday due to selling in private bank and IT shares amid weak Asian markets and continuous foreign fund outflows.
‘PSUs are not in disarray, but thriving under Modi regime’
Finance Minister Nirmala Sitharaman on Wednesday said PSUs have suffered under the Congress-led UPA government and previously neglected ones like, the Hindustan Aeronautics Limited (HAL), have seen a 'resurgence' under the Modi government.
Blasts, gunfire heard near Rafah crossing as it remains closed under Israeli control
Israel claims it reopened a key Gaza crossing after a rocket attack but UN says no aid has entered
A vital bulwark
Abhijeet Pokharnikar and his team, through Dadachi Shala initiative, are providing free and quality education to underprivileged children in Maharashtra ensuring their all-round growth
MP’s Ujjain administration takes unique approaches to encourage voter participation
Administration aims for over 8o per cent voter turnout, surpassing the previous record of 75.43 per cent
Contracts awarding work to pvt parties not to be cancelled without reasons: SC
SC hearing addresses termination of Kolkata underpass contract
