CURRENT AFFAIRS

Detailed explanation-1: -Moody’s slashed India’s economic growth projection for 2022 to 7.0 per cent from 7.7 per cent, as a global slowdown and rising domestic interest rates would dampen economic momentum. Moody’s Investors Service has now lowered its projections for India’s growth twice.

Detailed explanation-2: -US rating agency Moody’s Investors Services has slashed India’s real GDP growth projections again to 7.0 per cent for 2022 from 7.7 per cent as “higher inflation, high interest rates and slowing global growth will dampen economic momentum by more than previously expected”.

Detailed explanation-3: -Moody’s Investors Service on Friday lowered India’s economic growth projection for 2022 to 7% from 7.7% earlier. This is the second time that Moody’s Investors Service has cut India’s growth estimates. In September, it had cut projections for the current year to 7.7 per cent from 8.8 per cent estimated in May.

Detailed explanation-4: -Moody’s cuts India’s GDP growth projection for 2022 from 7.7% to 7% | Business Standard News.

Detailed explanation-5: -Nirmala Sitharaman tabled the Economic Survey 2022-23 in Parliament today, which projects a baseline GDP growth of 6.5 per cent in real terms in FY24. The projection is broadly comparable to the estimates provided by multilateral agencies such as the World Bank, the IMF, and the ADB and by RBI, domestically.