Economy of India expected to grow 5-6 percent in 2015: Moody report

The report titled 2015 Outlook: Global Credit Conditions was released by the Moody on 10 December 2014. According to report, Economy of India is expected grow to 5 to 6 percent and pick up pace in 2015.

As per Moody, economic growth in the current fiscal ending March 2015, would be between 5.4 and 5.9 percent. The growth had slumped to sub-5 percent in the earlier two consecutive fiscals.

Highlights of the report
• Indian economy is expected to grow around 5 percent, the economy will have stronger GDP growth and it is expected 5 to 6 percent in 2015.
• India had benefited from a strong domestic demand base and diversified export markets that gave protection from the effects of a slowing Chinese economy and muted growth in the eurozone and Japan.
• Employment and consumption of India is likely expected to rise and the fall in global commodity prices will help to lower high inflation in India.
• Indian corporate would see improved cash flows on account of acceleration in manufacturing activity.
• Both wholesale and retail inflation have hit multi-year lows and softness in global crude prices has reduced subsidy pressure on government.