Moody’s expects India’s economy to grow 5% in
2014
13/08/2014 17:21
Leading global rating agency Moody’s said in a report that it expects the Indian economy to grow at a rate of 5 per cent in 2014 with growth tipped to pick up in the coming year as a new government aims to kick-start structural reforms and accelerate infrastructure investment. Asia’s third biggest economy has grown below the 5 per cent mark for the past two fiscal years. The rating agency expects the Indian economy to grow by 5.5 to 6 per cent in 2015. The Economic Survey pegs India’s economic growth in the current fiscal year at 5.4 per cent to 5.9 per cent. "The growth outlook is more robust for India and Indonesia. For both countries, we forecast GDP growth of around 5 per cent this year, rising to around 5.5-6 per cent in 2015," Moody's said in its report 'Global Macro Outlook 2014-15: "For India in particular, the projected growth rates are still significantly below pre-crisis and well short of the new government's target to raise growth to 7-8 per cent by 2017-18," the report said. India’s growth hopes are pinned upon the new government’s ability to live up to its much-awaited reform process including long pending labour market and tax reforms.
13/08/2014 17:21
Leading global rating agency Moody’s said in a report that it expects the Indian economy to grow at a rate of 5 per cent in 2014 with growth tipped to pick up in the coming year as a new government aims to kick-start structural reforms and accelerate infrastructure investment. Asia’s third biggest economy has grown below the 5 per cent mark for the past two fiscal years. The rating agency expects the Indian economy to grow by 5.5 to 6 per cent in 2015. The Economic Survey pegs India’s economic growth in the current fiscal year at 5.4 per cent to 5.9 per cent. "The growth outlook is more robust for India and Indonesia. For both countries, we forecast GDP growth of around 5 per cent this year, rising to around 5.5-6 per cent in 2015," Moody's said in its report 'Global Macro Outlook 2014-15: "For India in particular, the projected growth rates are still significantly below pre-crisis and well short of the new government's target to raise growth to 7-8 per cent by 2017-18," the report said. India’s growth hopes are pinned upon the new government’s ability to live up to its much-awaited reform process including long pending labour market and tax reforms.
