Moody’s says India to grow at 7.3% in 2019-20

A report released by the US-based rating agency Moody’s says that the Indian economy is expected to grow at 7.3% in calendar years 2019 and 2020.

In its quarterly Global Macro Outlook for 2019 and 2020, the agency said the country is less exposed to a slowdown in global manufacturing trade growth than other major Asian economies and emerging markets and is poised to grow at a relatively stable pace in the two years.

Moody’s said the announcement in Interim Budget 2019-20 on direct cash transfer programme for farmers and the middle-class tax relief measures will contribute a fiscal stimulus of about 0.45% of GDP.

Moody’s growth estimates are based on the calendar year. India, however, measures its economic growth on the basis of the fiscal year from April to March.