NEW DELHI: Indian economy is
expected to grow marginally higher
at 7.3% during the year compared
with 7.2% in 2014 and interest rate
cuts will buttress private sector
spending, said a group company of
global rating agency Moody's.
"Our tracking model suggests that
first quarter GDP growth is tracking
around 7.3%, a slowdown from prior
quarters. But we expect this softness
will prove temporary with improving
domestic demand to help India's
GDP grow 7.3% for all of 2015,"
Moody's Analytics said in a study.
Earlier this week, International
Monetary Fund projected that India
will overtake China as the fastest
growing emerging economy in
2015-16 by clocking a growth rate of
7.5 per cent, helped by its recent
policy initiatives, pick-up in
investments and lower oil prices.
World Bank too has similar GDP
growth forecast for India for the
current fiscal year.