News > Moody’s lowers India’s economic growth forecast to 9.1% from 9.5% for 2022

Moody’s lowers India’s economic growth forecast to 9.1% from 9.5% for 2022

Scroll | 17/03/2022 09:02 PM | Click to read full article

The global rating agency Moody’s on Thursday cut down India’s economic growth forecast to 9.1% from 9.5% in 2022, owing to rising fuel and commodity prices.

After Russia invaded Ukraine on February 24, international oil prices on February 24 had crossed the $100 per barrel mark for the first time in seven years. Higher costs are detrimental to India as it imports 85% of its crude oil.