India's economy shows signs of recovery as restrictions ease, says Moody's Investors Service
3 years, 3 months ago

India's economy shows signs of recovery as restrictions ease, says Moody's Investors Service

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In its August update to ‘Global Macro Outlook 2021-22’, Moody’s retained India’s growth forecast for the 2021 calendar year at 9.6 percent and seven percent for 2022 New Delhi: Moody’s Investors Service on Tuesday said the economic activity in India is picking up with the gradual easing of COVID restrictions and there could be further upside to growth as economies around the world gradually reopen. In its August update to ‘Global Macro Outlook 2021-22’, Moody’s retained India’s growth forecast for the 2021 calendar year at 9.6 percent and seven percent for 2022. We expect to see an increasing number of emerging market central banks shift to a neutral policy stance amid their gathering growth momentum later this year and early next year,” Moody said. Moody’s estimates that the G-20 economies will grow by 6.2 percent in 2021, after a 3.2 percent contraction last year, followed by 4.5 percent growth in 2022.

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