September 1, 2023 1:54 PM

Moody's Investors Service raises India's growth projection for 2023 calendar year to 6.7 percent

Global rating agency Moody's has raised India's growth forecast to 6.7 percent for 2023. This forecast is slightly higher than RBI's projection of 6.5 percent for 2023-24. India has recorded a growth of 7.8 percent in the first quarter of the current fiscal. The agency has attributed the first quarter results to strong services expansion and capital expenditures, which propelled the real GDP growth. However, the agency highlighted that food prices could remain higher due to a b...