Moody's ups FY'21 India growth forecast to -10.6%; says stimulus to boost manufacturing, jobs

Moody's forecasts government debt to increase to 89.3 percent of GDP in fiscal 2020 and decline to 87.5 percent in fiscal 2021, from 72.2 percent in fiscal 2019. According to Moody's fiscal deficit would reach around 12 percent of GDP, with some upside risk, in fiscal 2020 and narrowing to about 7 percent of GDP over the medium term, still above the deficit of 6.5 percent of GDP in 2019.

Nov 19, 2020, 14:56 PM IST

Moody's projects Indian economy to contract 11.5% this fiscal

For 2021-22, it projected the economy to clock a growth of 10.6 per cent.

Sep 11, 2020, 17:59 PM IST

Public sector banks need capital up to Rs 2.1 lakh cr over next 2 years: Moody's

According to Moody's, the sharp slowdown in India's economic growth, exacerbated by the virus outbreak, will hurt the asset quality of public sector banks (PSBs) and drive up credit costs.

Aug 22, 2020, 00:16 AM IST

ONGC, OIL earnings to decline, credit metrics weaken due to lower oil prices: Moody's

ONGC and OIL get rates equivalent to those prevalent in the international markets. Oil prices in the international markets last month slumped to a two-decade low of USD 18 per barrel before rebounding by some measure.

May 07, 2020, 18:23 PM IST

Moody's lowers India's outlook to 'negative' from 'stable'

Moody`s Investors Service on Thursday changed its outlook on India`s ratings to "negative" from "stable", citing increasing risks that the country`s economic growth will remain lower than in the past.

Nov 08, 2019, 07:53 AM IST

India to grow at 7.3% in 2019, 2020: Moody's

Moody's growth estimates in based on calendar year. India, however, measures its economic growth on the basis of fiscal year (April-March).

Mar 01, 2019, 13:58 PM IST

GST cut to boost sales of under-construction flats; no ITC may hit builders' profit margin: Moody's

The GST Council had on Sunday decided to cut goods and services tax (GST) rate on affordable homes to 1 per cent without input tax credit (ITC) from earlier 8 per cent with ITC.

Feb 27, 2019, 13:56 PM IST

Cash transfer to farmers, middle-class tax relief to boost growth: Moody's

It said that while the middle-class tax relief will weigh somewhat on direct tax revenues, GST collections will continue to pose risks to indirect tax collections if they fall short of budgeted expectations.

Feb 06, 2019, 12:26 PM IST

US-China decision to not impose higher tariffs de-escalates hostilities temporarily: Moody's

Signalling an end to the six-month-long trade war, Trump agreed that on January 1, 2019, he will leave the tariffs on USD 200 billion worth of product at the 10 percent rate, and not raise it to 25 percent at this time.

Dec 04, 2018, 13:01 PM IST

After its parent Moody's, now Icra downgrades Yes Bank

The agency had placed the bank on rating watch earlier this month and had said the resignations--there were three so far--would impede the bank's ability to raise capital.

Nov 29, 2018, 14:41 PM IST

Govt steps to boost capital inflow unlikely to reverse Rupee slide: Moody's

The rupee has depreciated more than 10 percent against the US dollar since January 2018 and was at Rs 72.1 against the dollar as of September 21.

Sep 24, 2018, 09:51 AM IST

Moody's affirms Yes Bank's ratings; outlook stable

The rating agency has also maintained the outlook on the ratings as stable.

Sep 20, 2018, 18:30 PM IST

Rupee weakening credit negative for companies, but effects limited: Moody's

The Indian rupee has depreciated 13 percent so far in 2018 and has touched a historic low of Rs 72.32 to a dollar.

Sep 10, 2018, 11:07 AM IST

Blockchain to have mixed implication on banking system: Moody's

Besides, reduction in cost, blockchain technology can decrease time involved in cross-border banking transactions.

Apr 17, 2018, 16:58 PM IST

PSU Banks' capital raises are credit positive: Moody's

On a pro forma basis, it said, the capital raise will add about 100 basis points to PNB's Common Equity Tier 1 (CET1) ratio, which was 8.1 percent as of September 2017.

Dec 19, 2017, 13:25 PM IST

Moody's has stable outlook on India Inc, barring telcos

The agency also has stable outlooks for car-makers, and companies in the construction, cement, and textiles sectors, but a negative outlook on the real estate sector.

Dec 14, 2017, 18:07 PM IST

IMF to update India's growth rate forecast in January

Recently, the US-based Moody's upgraded India's sovereign rating after a gap of 13 years to Baa2.

Dec 01, 2017, 09:56 AM IST

Moody's paints a rosy picture about non-life sector

The global rating agency Moody's, in its report, has projected that GDP will grow at 6.7 percent this fiscal year.

Nov 28, 2017, 15:01 PM IST

After sovereign upgrade, Moody's ups outlook on India Inc

It can be recalled that for the first time in almost 14 years, over the past weekend, Moody's had upgraded the country's sovereign ratings to Baa2 with a stable outlook.

Nov 22, 2017, 14:50 PM IST

NITI Aayog VC dubs Chidambaram's stance on Moody's rating as 'baseless'

"No progress was made during the UPA Government's 2nd term, as claimed by Chidambaram. Only corruption and policy paralysis was spoken about during this term," NITI Aayog VC told ANI.

Nov 20, 2017, 18:24 PM IST