Business Desk: Moody's on Thursday raised India's economic growth forecast for the next financial year from 10.8 percent to 13.7 percent. This new estimate has been made in view of the general confidence of the economic activity and the increasing confidence in the market after the introduction of Kovid-19 vaccine in the market. The estimate of the same was also improved from its earlier 10.6 percent to 7 percent. That is, the Indian economy is expected to decline by seven percent during the current financial year.
Jane Fang, Assistant Managing Director (Savren Risk), Moody's Investors Service, said that our current estimate is that the Indian economy will fall by seven percent in the current financial year ending March 2021 ... while we normalize activities And looking at the base effect, we are expecting 13.7 percent growth in the next financial year. At the same time, ICRA Principal Economist Aditi Nair said that she expects 0.3 percent growth in the third quarter of October to December 2020 of the current financial year. At the same time, Icra believes that the Indian economy will be down seven percent in the current financial year, while it will register a growth of 10.5 percent in the next financial year.
What is this Moody
's Moody 's is a US company, which is associated with business and economic matters. John Moody's motive behind forming this company, which was formed in the year 1909, was to tell the stock market and bond ratings. Which means telling which stock exchange is performing and which bond can be profitable by buying. For this, John Moody used to rate the stock market and bonds.