Moody’s Projects India’s GDP growth forecast in FY22 at 9.3%; FY23 at 7.9%

Moody’s Investors Service has projected the GDP growth rate of the Indian economy as follows:

• India’s GDP growth rate prediction for FY22 as per Moody’s : 9.3%.
• India’s GDP growth rate prediction for FY23 as per Moody’s : 7.9%.

In terms of Sovereign ratings, Moody’s has estimated a ‘Baa3’ rating on India with a negative outlook. The economy rebounded quickly from a steep contraction in 2020.