Moody's cuts 2022 India growth estimate to 9.1% on lower capex

11:00:00 PM, Thursday 17th of March 2022 | in business

Moody's on Thursday slashed India's growth estimate for the current year to 9.1 per cent, from 9.5 per cent earlier, saying high fuel and fertilizer import bill could limit the government's capital expenditure. With regard to India, it said the country is particularly vulnerable to high oil prices, given that it is a large importer of crude oil.