{"id":108787,"date":"2023-09-01T18:22:06","date_gmt":"2023-09-01T12:52:06","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=108787"},"modified":"2023-09-01T18:22:07","modified_gmt":"2023-09-01T12:52:07","slug":"moodys-revises-forecasts-for-indias-growth","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/moodys-revises-forecasts-for-indias-growth\/","title":{"rendered":"Moody&#8217;s Revises Forecasts for India&#8217;s Growth"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2279151785\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Moody&#8217;s Investors Service on Friday raised India&#8217;s growth projection for 2023 calendar year to 6.7% citing upside to growth performance helped up robust underlying economic momentum. <\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2990302452\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>In the Global Macro Outlook 2023-24 (August update), Moody&#8217;s said strong services expansion and capital expenditures have propelled India&#8217;s 7.8% real GDP growth in the second (April-June) quarter from a year ago. The global rating agency, however, lowered the 2024 growth forecast to 6.1% from 6.5%, citing a high base of 2023.<\/p><p>India&#8217;s monsoon season which runs from June to October could also see below average rainfall, resulting in higher food prices. As of August 29, the India Meteorological Department has estimated a 9% rain deficiency across the country. <\/p><p>If El Ni\u00f1o this year proves to be particularly strong in the second half of 2023 and early 2024, agricultural commodity prices could shoot up, Moody&#8217;s added.\u00a0<\/p><div class=\"trade-content_5\" id=\"trade-3972322418\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The Reserve Bank of India&#8217;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 Ni\u00f1o-related weather conditions will delay monetary policy easing consideration to early next year, it said. <\/p><p>With regard to global growth, the US-based agency said tight financial conditions will continue to dampen global economic growth through 2023 and keep growth below trend in 2024.<\/p><p>For the G20, expectations for real gross domestic product (GDP) growth are to slow to 2.5% in 2023 and 2.1% in 2024, from 2.7% in 2022. With regard to growth in China, Moody&#8217;s said the economy is facing &#8220;considerable growth challenges, causing us to cut our 2024 growth expectations. We have lowered our growth expectation for 2024 to 4% from 4.5%&#8221;.<\/p><p>Economic activity in the first half of 2023 outpaced our expectations in multiple countries, including India, Moody&#8217;s said. Moody&#8217;s had last month affirmed India&#8217;s sovereign rating at &#8216;Baa3&#8217;&#8211; the lowest investment grade. Earlier this year, Moody&#8217;s had projected economic growth in 2023-24 fiscal (April-March) at 6.1%, lower than 7.2% clocked in 2022-23.<\/p><div class=\"trade-after-content\" id=\"trade-2494650597\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Moody&#8217;s Investors Service on Friday raised India&#8217;s growth projection for 2023 calendar year to 6.7% citing upside to growth performance helped up robust underlying economic momentum. In the Global Macro Outlook 2023-24 (August update), Moody&#8217;s said strong services expansion and capital expenditures have propelled India&#8217;s 7.8% real GDP growth in the second (April-June) quarter from [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1697,31],"tags":[],"class_list":["post-108787","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Moody&#039;s Revises Forecasts for India&#039;s Growth - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Moody&#039;s Investors Service on Friday raised India&#039;s growth projection for 2023 calendar year to 6.7% citing upside to growth performance helped up robust underlying economic momentum.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/moodys-revises-forecasts-for-indias-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Moody&#039;s Revises Forecasts for India&#039;s Growth\" \/>\n<meta property=\"og:description\" content=\"Moody&#039;s Investors Service on Friday raised India&#039;s growth projection for 2023 calendar year to 6.7% citing upside to growth performance helped up robust underlying economic momentum.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/moodys-revises-forecasts-for-indias-growth\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-01T12:52:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-01T12:52:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/Moodys-Cover-Image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/moodys-revises-forecasts-for-indias-growth\/\",\"url\":\"https:\/\/tradebrains.in\/features\/moodys-revises-forecasts-for-indias-growth\/\",\"name\":\"Moody's Revises Forecasts for India's Growth - 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