Moody's cuts India growth forecast to 9.1%

PTI

New Delhi, March 17

Moody’s on Thursday slashed India’s growth estimate for the current year to 9.1%, from 9.5% earlier, saying high fuel and fertiliser import bill could limit the government’s capital expenditure.

In its ‘Global Macro Outlook 2022-23 (March 2022 Update): Economic growth will suffer as fallout from Russia’s invasion of Ukraine builds’ report, the rating agency said Russia’s invasion of Ukraine has significantly altered the global economic backdrop through three main channels — spike in commodities prices, risks to global economy from financial and business disruption and dent in sentiment due to heightened geopolitical risks. —

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