Highlights

  • India's GDP growth is projected at over 6% for two years.
  • Moody's affirms India's stable rating, citing robust growth prospects.

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Moody's projects over 6% GDP growth for India in next 2 years, affirms stable rating

Moody's reaffirms India's stable rating, citing strong GDP growth prospects exceeding 6% for the next two years, reflecting the nation's economic resilience and fiscal improvement

Moody's projects over 6% GDP growth for India in next 2 years, affirms stable rating

Moody's, the global rating agency, has reaffirmed India's stable outlook for its sovereign ratings, maintaining the long-term rating at Baa3 and the short-term rating at P-3.

The decision by Moody's comes as it acknowledges India's promising growth prospects and the potential for gradual improvement in its fiscal metrics compared to its global counterparts. Moody's Baa3 long-term rating for India means it's considered moderately risky for long-term investments. P-3 short-term rating suggests India can meet short-term financial obligations promptly.

Highlighting India's resilient economic performance despite the pandemic, Moody's emphasized the country's large and diversified economy, robust growth potential, and stable domestic financing base for government debt. However, it also flagged challenges such as high general government debt and low per capita income.

Moody's identified key sectors driving India's growth, including infrastructure development, digitalization, and financial system rehabilitation. This recognition underscores the country's efforts to bolster its economic foundations and enhance competitiveness.

The agency revised India's real GDP growth projection to 8% for the current financial year, with expectations of sustained growth above 6% over the next two fiscal years. This optimistic outlook is supported by India's consistent economic performance, with GDP expanding by 8.4% in the October-December quarter, maintaining its position as the fastest-growing major economy.

Despite the challenges of fiscal consolidation and debt management, Moody's remains confident in India's economic fundamentals and growth trajectory. In its assessment, India's stable outlook reflects resilience and the potential for continued advancement on the global stage.

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