India’s GDP to grow at 9.3% in FY22

Moody’s Investors Service on Tuesday fixed India’s GDP development at 9.3 percent in the current fiscal ending March 2022 and 7.9 percent in FY23. “The reimposition of lockdown measures alongside social changes on dread of virus will check economic activity, however we don’t anticipate that the impact should be just about as serious as during the principal wave.

“We expect a decrease in financial movement in the April-June quarter, trailed by a bounce back, resulting about real, expansion changed GDP development of 9.3 percent in the fiscal year ending March 2022 and 7.9 percent in financial 2022-23,” it said.

India’s economy shrunk by 7.3 percent in financial 2020-21. The pandemic, it said, will leave new economic scars and deepen pre-pandemic constraints.

“Over the longer term, we anticipate that real GDP growth should average around 6%,” it said.