Moody’s lowers India’s GDP forecast for CY22 to 9.1% amid Russia-Ukraine conflict

Rating agency Moody’s has revised downwards the economic growth forecast of India by 40 basis points to 9.1 % in the Calendar Year 2022 (CY2022), due to adverse effects of the Russia-Ukraine conflict on the global economy. Earlier in February 2022, Moody’s estimated India’s GDP in CY2022 to 9.5 %. Moody’s has projected India’s GDP growth forecast for the Calendar Year (CY) 2023 at 5.4 %.