• search
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Moody's pegs India's growth to be 7.2% this fiscal and 7.4% in next

    |

    New Delhi, Dec 3: Moody's Investors Service's annual Banking System Outlook has estimated that India's GDP growth could be 7.2 percent for the financial year ending March 2019. Moody's also predicted that for next financial year, i.e. 2019-2020, it could be 7.4 percent.

    Moodys pegs Indias growth to be 7.2% this fiscal and 7.4% in next

    Banks are largely deposit funded and liquidity coverage ratios of all banks are above 100%. Funding and liquidity of public sector banks will remain resilient, notwithstanding their solvency challenges, reports quoted Moody's Investors Service's annual Banking System Outlook report as saying.

    Also Read | Economy is in crisis, Modi govt will never achieve double digit growth: P Chidambaram

    "Operating environment will be stable,supported by robust economic growth.We expect real GDP to grow 7.2% and 7.4% in year ending March 2019 and in following year, respectively, driven by investment growth and strong consumption," it further said.

    India's economy grew at 7.1 per cent in the July-September quarter, lowest in three quarters, but still remained ahead of China to retain the tag of the world's fastest growing major economy. The Gross Domestic Product (GDP) at constant prices (2011-12) had grown at 6.3 per cent in the July-September quarter of the last fiscal, according to government data released Friday.

    Also Read | GDP growth slows to 7.1 per cent in July-September quarter

    The size of the GDP in the second quarter of 2018-19 is estimated at Rs. 33.98 lakh crore, as against Rs. 31.72 lakh crore a year ago, showing a growth rate of 7.1 per cent, according to a statement of the Central Statistics Office (CSO). The Indian economy grew at 8.2 per cent in the April-June quarter of this

    For Daily Alerts

    For Breaking News from Oneindia
    Get instant news updates throughout the day.

    Notification Settings X
    Time Settings
    Done
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    X
    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more