Moody's keeps growth forecast of India unchanged at 7.6 per cent

Shubhanshu Sharma

Shubhanshu SharmaBy Shubhanshu Sharma

Published on 28 Feb 2018 12:40 PM GMT

Moodys keeps growth forecast of India unchanged at 7.6 per cent
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Moody's keeps growth forecast of India unchanged at 7.6 per cent
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New Delhi: Moody's Investors Service has kept unchanged at 7.6 per cent the growth outlook for 2018 for the Indian economy, which is recouping from the impact of demonetisation and Goods and Services Tax (GST).

"There are some signs that the Indian economy is starting to recover from the soft growth patch attributed to the negative impact of the demonetisation undertaken in 2016 and disruption related to last year's rollout of the Goods and Service Tax," Moody's said.

The organisation, however, appreciate the Indian Budget 2018 saying that it has measures that could be beneficial for the rural economy.

Also Read: India’s April-January fiscal deficit at 113.7% of full year’s target

"The 2018 budget includes some measures that could stabilise the rural economy that was disproportionately hit by the demonetisation policy and is yet to recover. As we have said before, the bank recapitalisation plan should also help credit growth over time, thereby supporting growth," it added.

"We have maintained our growth projections for ... India," it said.

Moody's kept India's growth forecast for 2019 unchanged at 7.5 per cent.

Shubhanshu Sharma

Shubhanshu Sharma

Writer has 6 years of experience in digital media. Presently working as Senior Sub Editor at newstrack.com. An avid reader and always willing to learn new things and techniques.

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