Moody’s slashes India’s economic growth forecast to 8.8% for 2022

Moody’s slashes India’s economic growth forecast to 8.8% for 2022 – Moody’s Investors Service slashed India’s economic growth projection to 8.8 per cent for 2022 from 9.1 per cent earlier, due to the high inflation.

• high-frequency data from Moody suggest that the growth momentum from the December quarter of 2021 carried through into the first four months of this year.
• the rise in crude oil, food and fertilizer prices will weigh on household finances and spending.

Moody’s 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,”

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