Moody’s says India’s economic growth is expected to rebound strongly in the next FY. The rating agency has pegged the GDP to grow at 9.3% in 2022 and 7.9% in the fiscal year 2023.
Vaccination a boon
The rising rate of Covid vaccination will support a sustained recovery in economic activity. Consumer demand, spending and manufacturing activity are recovering now.
Trends like high commodity prices will propel significant growth in rated companies. The growing government expenditure on infrastructure will support demand for cement and steel, it said. New investments will be supported by rising consumption, domestic manufacturing etc.
