Question
Rating agency Moody’s slashed India’s GDP growth
projections for 2022 to how many base points?Solution
Rating agency Moody’s slashed India’s gross domestic product (GDP) growth projections for 2022 to 7 percent from 7.7 percent estimated earlier due to global slowdown, elevated inflation, and rising domestic interest rates as the main causes of dampening the growth momentum in India. The agency expects India’s growth to further decelerate to 4.8 percent in 2023 and then rise to around 6.4 percent in 2024. Moody’s Investor Service Headquarters: New York,US CEO: Robert Fauber Gross domestic product or GDP is a monetary measure of the market value of all the final goods and services produced in a specific time period.
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