Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

Moody’s raises India’s growth forecast to 7.2% for 2024

IANS
Updated: August 30th, 2024, 10:24 IST
in Business, Home News, Metro
0
MOODY'S
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

New Delhi: New York-based Moody’s Ratings Thursday raised its forecast for India’s GDP growth for 2024 to 7.2 per cent from 6.8 per cent as projected earlier on the back of stronger private consumption driving up aggregate demand in the economy.

“Household consumption is poised to grow as headline inflation eases toward the RBI’s target. Indeed, signs of a revival in rural demand are already emerging on the back of improving prospects for agricultural output amid above-normal rainfall during the monsoon season,” the global rating agency said.

Also Read

Unfair trade practices by Bangla suppliers forced India to restrict import of jute: Officials

7 hours ago
Parag Jain   (Pic - IANS)

Man behind ‘Operation Sindoor’ Parag Jain appointed new R&AW chief

8 hours ago

“These forecast changes assume strong broad-based growth and we recognise potentially higher forecasts if the cyclical momentum, especially for private consumption, gains more traction,” Moody’s said.

Moody’s upgraded forecast matches the RBI projection of 7.2 per cent growth for the Indian economy for 2024-25, which factors in rising rural and urban demand as a driver of growth.

The RBI in its growth projection had cited the pick-up in the monsoon which would lead to stronger growth in the farm sector, and higher rural income as a factor that would drive up the growth rate.

Moody’s also cited strong performances in the industrial and services sector, indicated by the Purchasing Managers’ Index, as an indicator of higher growth momentum.

The Indian economy is expected to grow faster at 6.6 per cent in 2025 as well, compared to the 6.4 per cent growth projected earlier, Moody’s said.

“Over the medium and longer-term, India’s growth prospects depend on how well the country can productively tap its substantial pool of labour. It should be possible for the economy to post 6-7 per cent growth, sheerly on the basis of the present conditions,” Moody’s stated.

“India’s external position has also strengthened in recent years amid a marked narrowing of its current account deficit,” the rating agency said.

“Global growth is stabilising and inflation in most markets is close to the central bank targets. We expect global growth will slow to 2.7 per cent and 2.5 per cent in 2024 and 2025, respectively, from 3 per cent in 2023, though growth trends differ across countries,” Moody’s said.

The rating agency also predicted countries to move from cyclical recovery to expansionary phase.

Apart from ongoing geopolitical conflicts, the report viewed the deteriorating US economic outlook as the most immediate risk to the global economy going ahead.

RBI Governor Shaktikanta Das had said at the monetary policy review on August 8 that taking all the factors into consideration, the country’s real GDP growth for 2024-25 is projected at 7.2 per cent with Q1 at 7.1 per cent; Q2 at 7.2 per cent; Q3 at 7.3 per cent; and Q4 at 7.2 per cent.

Real GDP growth for Q1 2025-26 is projected at 7.2 per cent, he said.

Tags: GDP growthMoody's
ShareTweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

slide 2 to 4 of 30
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Aishwarya Ranjan Mohanty

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Vandana Singh

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Pratik Kumar

December 12, 2019
#MyPaperBagChallenge

Surya Sidhant Rath

December 12, 2019
#MyPaperBagChallenge

Sitakanta Mohanty

December 12, 2019
#MyPaperBagChallenge

Saishree Satyarupa

December 12, 2019
#MyPaperBagChallenge

Rajashree Manasa Mohanty

December 12, 2019
#MyPaperBagChallenge

Faiza Firdous

December 12, 2019
#MyPaperBagChallenge

Jhili Jena

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Chinmay Kumar Routray

December 12, 2019
#MyPaperBagChallenge

Debasis Mohanty

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Sisirkumar Maharana

December 12, 2019
#MyPaperBagChallenge

Tabish Maaz

December 12, 2019
#MyPaperBagChallenge

Pitabas Tripathy

December 12, 2019
#MyPaperBagChallenge

Sarfraz Ahmad

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Shreyanshu Bal

December 12, 2019
#MyPaperBagChallenge

Lopali Pattnaik

December 12, 2019
#MyPaperBagChallenge

Rajashree Pravati Mohanty

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019
#MyPaperBagChallenge

D Rama Rao

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Amritansh Mishra

December 12, 2019
#MyPaperBagChallenge

Bijswajit Pradhan

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Aishwarya Ranjan Mohanty

December 12, 2019
#MyPaperBagChallenge

Anshuman Sahoo

December 12, 2019
#MyPaperBagChallenge

Vandana Singh

December 12, 2019

Archives

Select Month

    Editorial

    Double-engine PMO

    June 28, 2025

    Since February, the Prime Minister’s Office (PMO) has been operating for the first time with two full principal secretaries, P.K....

    Read more

    Let Them Be

    NEET
    June 25, 2025

    A17-year-old girl was beaten to death by her father for not getting good score in a mock test for the...

    Read more

    Talking Shop

    G7 summit in Alberta
    June 24, 2025

    Normally, negatives do not make headlines. But, at times, they do. The recently concluded G7 summit in Alberta, Canada, turned...

    Read more

    Unending War

    US-Iran
    June 23, 2025

    Last week, when a reporter asked US President Donald Trump whether America would enter the war on Iran with close...

    Read more
    • Home
    • State
    • Metro
    • National
    • International
    • Business
    • Editorial
    • Opinion
    • Sports
    • About Us
    • Advertise
    • Contact Us
    • Jobs
    Developed By Ratna Technology

    © 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST

      • News in Odia
      • Orissa POST Epaper
      • Video
      • Home
      • Trending
      • Metro
      • State
      • Odisha Special
      • National
      • International
      • Sports
      • Business
      • Editorial
      • Entertainment
      • Horoscope
      • Careers
      • Feature
      • Today’s Pic
      • Opinion
      • Sci-Tech
      • About Us
      • Contact Us
      • Jobs

      © 2024 All rights Reserved by OrissaPOST