Chennai: With gloomy global economic outlook, Moody’s Investors Service turned moody on Friday and cut 2022 gross domestic product (GDP) projections for India to 7 per cent and projected 2023 at 4.8 per cent. The global credit rating agency has also lowered the economic growth expectations of several other countries — advanced and emerging economies. […]
Core inflation is likely to see a more controlled rise in 2021, although food-price or fuel-driven inflation can become a recurring factor, weighing on household disposable income.
The very purpose of nationalisation in India — serving the unbanked and under-banked — is yet to be achieved and financial inclusion cannot afford the luxury of complete privatisation
For current fiscal, the US-based rating agency expects the economy to contract 7 per cent, lower than its previous estimate of 10.6 per cent contraction.
It said the affirmation and change in outlook to stable reflect Muthoot's steady credit profile despite the economic contraction caused by coronavirus pandemic.