NEW DELHI : Moody’s Investors Service on Tuesday joined other rating agencies slashing its FY22 economic growth forecast for India from 13.7% estimated earlier to 9.3%, citing negative impact of the second wave of coronavirus pandemic. “However, there are reasons to expect a muted economic impact as compared to the first wave. Mint reported last week quoting finance ministry sources that the government’s internal assessment suggests limited economic impact of the second wave of the pandemic. “We don’t think the economic impact will be as serious as last year. While the Economic Survey has assumed 11% GDP growth in FY22, the budget presented by finance minister Nirmala Sitharaman in February has factored in 10.5% GDP growth.

Source: Mint May 11, 2021 12:22 UTC