Moody's cuts India forecasts for 2022, 2023 even after a double-digit Q1 GDP growth; Here's why
Updated: 01 Sep 2022, 01:27 PM IST
TL;DR.In March, Moody's had forecast that India's economy could expand at 8.8 percent in 2022. Data released on Wednesday showed that Indian economy expanded 13.5 percent year-on-year in the April-June quarter, the fastest pace in a year.
As per the report, rising interest rates, uneven distribution of monsoons, and slowing global growth will dampen economic momentum on a sequential basis.