Economy of energy-hungry India may face headwinds

23 Aug 2016   India

The economy of energy-hungry India is on pace for steady growth that outpaces the global economy, though gains are moderating, Moody’s Investors Service said. “Moody’s Investors Service says that India’s credit profile is supported by the strong growth potential of its large economy and the high private savings rate which underpins the government’s access to domestic financing at relatively favorable terms,” the ratings agency said in a report published Monday. Lower crude oil prices, relative to 2014 levels , are dampening the fiscal strains on an economy growing at a rate of around 7 percent. Moody’s said tighter monetary policies and favorable developments like lower oil prices translated to stable macroeconomic development for India. The August economic forecast from the Organization of Petroleum […]

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