NEW DELHI: Moody’s Investors Service on Tuesday pegged India’s GDP growth at 9.
3 percent from the current fiscal ending March 2022 and 7.
9 percent in FY23.
“The reimposition of all lockdown steps together with behavioural impacts on fear of contagion will suppress economic action, but we don’t anticipate the effect to be as intense as during the very first wave.
“We anticipate a decrease in economic activity from the April-June quarter, followed by a dip, leading to actual, inflation-adjusted GDP increase of 9.
3 percent in the financial year end March 2022 and 7.
9 percent in financial 2022-23,” it stated.
India’s market contracted by 7.
3 percent in financial 2020-21.
The pandemic, ” it said, will depart new financial consequences and deepen pre-pandemic limitations.
“On the long run, we expect real GDP growth to average about 6 percent,” it stated.