Moody’s upgrades India’s FY24 GDP growth forecast to 8%

• Moody’s has raised its forecast for India’s GDP growth in FY24 to 8% from 6.6% on the back of strong government expenditure and domestic consumption.
• The upgrade comes a week after the rating agency raised its forecast for India’s GDP growth in calendar 2024 to 6.8% from 6.1%.
• Earlier, the Indian economy soared ahead in the December quarter with a surprise growth of 8.4%, belying fears of tempering as manufacturing, electricity and construction put up a robust show.

The rating agency also expects India to be the fastest-growing economy among the major G20 countries