Moody's Ratings raised gross domestic product (GDP) growth projection for this calendar year to 7.2 per cent from 6.8 per cent previously on the back of expectations of robust broad-based recovery and signs of improving rural demand.
Fitch, meanwhile, affirmed the country's sovereign credit rating at 'BBB-' on Thursday.
Moody's has pegged the 2025 growth forecast at 6.6 per cent against 6.4 per cent. "Over the medium-and longerterm, India's growth prospects depend on how well the country can productively tap its substantial pool of labour," it said, while noting that India's population has a median age of 28 years and around two-thirds of it are of working age.
This story is from the August 30, 2024 edition of Business Standard.
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This story is from the August 30, 2024 edition of Business Standard.
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