India’s GDP growth rate forecast for year 2018 is 7.6%

Moody’s Investors Service has recently estimated India’s GDP growth forecast for year 2018 & 2019. In it, it has kept the GDP growth forecast for India in the calendar year 2018 unchanged at 7.6 % and for 2019 at 7.5 %, amid signs of economic recovery from the negative impact of demonetisation and disruption caused by GST roll out. In its global growth forecasts for 2018 and 2019, Moody’s said the Budget for fiscal year beginning April 1 (2018-19) includes some measures to stabilize rural economy that was disproportionately hit by scrapping of high denomination 500 and 1000 rupee notes.