Skip to content
  • About us
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
  • Facebook
  • Twitter
News Today | First with the news

News Today | First with the news

News Today | First with the news

  • HOME
  • CHENNAI
  • TAMILNADU
  • ENTERTAINMENT
    • KOLLYWOOD
    • BOLLYWOOD
    • HOLLYWOOD
    • TELEVISON
  • NATION
  • EDITORIAL
  • COLUMNS
    • POINTBLANK
  • SPORTS
    • IPL 2022
  • WORLD
  • LIFE STYLE
  • E-PAPER
  • search

Moody’s ups India’s growth forecast to 6.7 pc for 2023

Moody’s ups India’s growth forecast to 6.7 pc for 2023

  • NATION
  • TOP STORIES
  Posted on September 1, 2023  3:28 pm By NT Bureau

New Delhi: Moody’s Investors Service on Friday raised India’s growth projection for 2023 calendar year to 6.7 per cent on account of robust economic momentum.

“Strong services expansion and capital expenditures propelled India’s 7.8 per cent real GDP growth in the second (April-June) quarter from a year ago. We have accordingly raised our 2023 calendar year growth forecast for India from 5.5 per cent to 6.7 per cent,” Moody’s said in its Global Macro Outlook.

“Given the robust underlying economic momentum, we also recognise further upside risk to India’s economic growth performance,” it added Moody’s said since the second quarter outperformance creates a high base in 2023, “we have lowered our 2024 growth forecast from 6.5 per cent to 6.1 per cent”.

India’s monsoon season which runs from June to October could also see below average rainfall, resulting in higher food prices. So far, as of August 29, the India Meteorological Department has estimated a 9 per cent rain deficiency across the country.

If El Niño this year proves to be particularly strong in the second half of 2023 and early 2024, agricultural commodity prices could shoot up, Moody’s added.

The Reserve Bank of India’s monetary policy committee left the repo rate unchanged for a third time in August.

The recent uptick in food price inflation and uncertain El Niño-related weather conditions will delay monetary policy easing consideration to early next year.

  • Facebook
  • Twitter
  • Pinterest
  • Linkedin
  • Email
  • WhatsApp
Tags:Moody's Investors Service on Friday raised India's growth projection for 2023 calendar year to 6.7 per cent on account of robust economic momentum.

Post navigation

Commercial LPG cylinder price slashed by Rs 158
Vikram lander records natural event on moon, says ISRO

Archives

September 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Aug    

Recent Posts

  • Tulika Maan loses in bronze medal match
    Posted on September 27, 2023

    Tulika Maan loses in bronze medal match

  • Asian Games: Humpy, Harika, Vidit secure wins
    Posted on September 27, 2023

    Asian Games: Humpy, Harika, Vidit secure wins

  • Hearing adjourned on Chandrababu Naidu’s bail plea
    Posted on September 27, 2023

    Hearing adjourned on Chandrababu Naidu’s bail plea

  • Army jawan who faked assault by ‘PFI’ activists in Kerala police custody
    Posted on September 27, 2023

    Army jawan who faked assault by 'PFI' activists in Kerala police custody

  • Manipur: 34 injured during massive students’ protest
    Posted on September 27, 2023

    Manipur: 34 injured during massive students' protest

  • Modi lauds India’s achievements at G20 University Connect Finale
    Posted on September 27, 2023

    Modi lauds India's achievements at G20 University Connect Finale

  • Govt may lower basmati rice export price by $300 per tonne
    Posted on September 27, 2023

    Govt may lower basmati rice export price by $300 per tonne

Copyright © 2023 News Today. | Maintained by Gifted Technologies @ +91 9629456535.
MENU
News Today | First with the newsLogo Header Menu
  • HOME
  • CHENNAI
  • TAMILNADU
  • ENTERTAINMENT
    • KOLLYWOOD
    • BOLLYWOOD
    • HOLLYWOOD
    • TELEVISON
  • NATION
  • EDITORIAL
  • COLUMNS
    • POINTBLANK
  • SPORTS
    • IPL 2022
  • WORLD
  • LIFE STYLE
  • E-PAPER