Moody’s Projects India’s GDP Forecast for FY22 to 9.3%

Current GK ( Master) Growth and development

The rating agency Moody’s has cut the gross domestic product (GDP) forecast of India for FY22 (01 April 2021-31 March 2022) to 9.3 percent. Earlier this rate was projected at 13.7 percent.
The downward revision in GDP estimates is due to the second wave of Covid infections across the country, which have triggered localised lockdowns and mobility curbs.