Moody’s has increased India’s GDP growth projection for FY24 to around 8% due to robust domestic consumption and government capital expenditure. India is anticipated to outpace other G20 nations in growth, benefiting from global trade shifts away from China. The banking sector outlook is positive, supported by improving asset quality and government backing. However, risks loom from rapidly growing unsecured retail loans amid rising interest rates. Overall, Moody’s expects India’s economic momentum to strengthen, driven by sustained investment and strong domestic demand.
Moody’s Raises India’s GDP Growth Forecast to 8% for FY24
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