India remains the world’s fastest growing economy, with many global institutions including the International Monetary Fund (IMF) and World Bank expressing confidence in its pace. At the same time, rating agency Moody’s also joined in and raised its GDP growth forecast for India (Moody’s India GDP). Moody’s said that India’s economy will grow at a rate of 7.1% in 2024.
This prediction was expressed earlier
Moody’s revised India’s GDP growth forecast to 7.1%. Previously, rating agencies predicted 6.8%. Apart from this, the global credit rating agency in its new Asia-Pacific outlook kept the country’s economic growth forecast unchanged at 6.5% for fiscal 2024-25, while the Indian economy is expected to grow by 6.6% in fiscal 2025 -26. will continue.
What does the agency think about inflation?
The new report from Moody’s Analytics also mentions India’s inflation rate. Although Moody’s revised the country’s economic growth forecast by 30 basis points, it lowered India’s inflation forecast to 4.7% from the previous 5%. It is worth noting that India’s retail inflation rate in July and August has been below the 4% prescribed by the Reserve Bank of India. According to the rating agency, India’s inflation rate in 2025-26 is now expected to be 4.5% and 4.1% respectively. . yes.
The World Bank and the International Monetary Fund also trust
Not only Moody’s, but also global institutions such as the World Bank and the International Monetary Fund are confident in the Indian economy and have raised their forecasts for the country’s GDP growth. On the one hand, the World Bank raised India’s growth forecast for fiscal 2025 to 7% from 6.6%, citing increased government infrastructure spending, domestic real estate investment and improved monsoons, but on the other hand, the International Monetary Fund (IMF) The GDP growth forecast for 2020 was raised by 20 basis points to 7%.
This foreign agency also has confidence in India
Like the International Monetary Fund and the World Bank, global ratings agency Standard & Poor’s is also confident about India. The agency maintained India’s growth forecast for fiscal 2024-25 at 6.8% and predicted that India’s repo rate will be reduced after the US policy rate cut. Standard & Poor’s said the Reserve Bank of India (RBI) may initiate interest rate cuts at the Monetary Policy Committee meeting in October.
