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Moody’s Says Russia Ukraine Conflict Will Not Derail India’s Economic Recovery From Covid-19 Pandemic

Moody's On Indian Economy: Due to the ongoing war between...

Moody’s On Indian Economy: Due to the ongoing war between Russia-Ukraine (Russia-Ukraine Conflict), the economic growth of India will not be derailed. This is to say that the global rating agency Moody’s Investor Service has said these things in its note. According to Moody’s, India’s economy has shown a spectacular recovery after the Covid-19 pandemic and India’s economic recovery has not been affected due to the Russia-Ukraine War. Will have.

diminishing effect of war
Moody’s said in its note that after a few months of the war, the fear of the effect is now diminishing. In its report, the rating agency has said that India’s GDP is estimated to be 8.2 percent in 2022-23, which is the highest among the G-20 countries.

Moody’s confident 8.2 percent of GDP
While Moody’s is projecting 8.2 percent GDP in 2022-23, on the other hand, RBI has estimated 7.2 percent GDP in April this fiscal due to the Russia-Ukraine war and the rise in crude oil prices in the international market. has been estimated. Moody’s has said in its report that due to the global effects of the Russia-Ukraine war, inflation will increase, while interest rates will also increase in India and may also face supply problems. According to Moody’s, due to high prices of food items, inflation will increase in the country, while the impact of expensive fuel can be seen. Moody’s believes that the current crisis will not affect India’s banks. Indian banks are now stronger than before the corona epidemic.

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