{"id":256730,"date":"2022-03-18T03:29:30","date_gmt":"2022-03-17T21:59:30","guid":{"rendered":"https:\/\/www.nagalandpost.com\/?p=256730"},"modified":"2022-03-18T03:29:32","modified_gmt":"2022-03-17T21:59:32","slug":"moodys-cuts-india-2022-growth-forecast-on-oil-prices","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2022\/03\/18\/moodys-cuts-india-2022-growth-forecast-on-oil-prices\/","title":{"rendered":"Moody\u2019s cuts India 2022 growth forecast on oil prices"},"content":{"rendered":"\n<div><a href=\"https:\/\/www.nagalandpost.com\/wp-content\/uploads\/2022\/03\/outputbiz2-e1647554349202.webp\" class=\"td-modal-image\"><div class=\"wp-block-image\"><figure class=\"alignright size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"169\" src=\"https:\/\/www.nagalandpost.com\/wp-content\/uploads\/2022\/03\/outputbiz2-e1647554349202.webp\" alt=\"\" class=\"wp-image-256738\"\/><\/figure><\/div><\/a><\/div>\n\n\n\n<p>Moody\u2019s Investors Service on Thursday revised its India\u2019s GDP forecast down to 9.1 per cent from 9.5 per cent for 2022.<br>As per Global Macro Outlook 2022-23 (March 2022 updated), India is particularly vulnerable to high oil prices given that it is a large importer of crude oil.<br>Lately, the geo political crisis involving Russia and Ukraine have pushed Brent crude oil price higher.<br>Currently, Russia is the third largest producer of crude oil in the world.<br>For India, the trend of high crude price is alarming since it imports nearly 85 per cent of its needs.<br>Besides, the cascading effect of higher fuel cost will trigger a general inflationary trend.<br>On the other hand, the March update pointed out that India\u2019s agricultural exports will benefit in the short term.<br>\u201cBecause India is a surplus producer of grain, agricultural exports will benefit in the short term from high prevailing prices.<br>\u201cHigh fuel and potentially fertiliser costs would weigh on government finances down the road, potentially limiting planned capital spending.\u201d<br>In addition, the update said: \u201cWe now expect the economy to grow by 9.1 per cent this year, followed by 5.4 per cent in 2023.<br>\u201cOur forecast revisions also factor in the somewhat stronger underlying momentum than we had not accounted for previously.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Moody\u2019s Investors Service on Thursday revised its India\u2019s GDP forecast down to 9.1 per cent from 9.5 per cent for 2022.As per Global Macro Outlook 2022-23 (March 2022 updated), India is particularly vulnerable to high oil prices given that it is a large importer of crude oil.Lately, the geo political crisis involving Russia and Ukraine [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[667],"tags":[],"class_list":["post-256730","post","type-post","status-publish","format-standard","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/256730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=256730"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/256730\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=256730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=256730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=256730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}