Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
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The Indian economy is expected to grow by about 7.5% in 2018 and 2019 as it is largely resilient to external pressures like those from higher oil prices, Moody’s Investors Service said. In its Global Macro Outlook for 2018-19, Moody’s said the run-up in energy prices over the last few months will raise headline inflation temporarily but the growth story remains intact as it is supported by strong urban and rural demand and improved industrial activity. ‘Growth prospects solid’ “Growth prospects for many of the G-20 economies remain solid, but there are indications that the synchronous acceleration of growth heading into 2018 is now giving way to diverging trends. The near-term global outlook for most advanced economies is broadly resilient, in contrast to the weakening of some developing economies in the face of emerging headwinds from rising U.S. trade protectionism, tightening external liquidity conditions and elevated oil prices,” it said. Moody’s put G-20 growth at 3.3% in 2018 and 3.1% in 2019. The advanced economies will grow 2.3% in 2018 and 2% in 2019.
