Moody's slashes India's 2022 growth estimate to 9.1 pct

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Moody's slashes India's 2022 growth estimate to 9.1 pct

STORY: Moody's slashes India's 2022 growth estimate to 9.1 pct DATELINE: March 18, 2022 LENGTH: 00:02:01 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of government buildings 3. various of crop harvesting and grain 4. various of fuel station 5. various of traffic STORYLINE: Global rating agency Moody's Thursday slashed India's growth estimate for the current year to 9.1 percent, down from 9.5 percent earlier, saying high fuel and fertilizer import bill could limit the government's capital expenditure. According to the rating agency, India is particularly vulnerable to high oil prices, given that it is a large importer of crude oil. However, it said that as India is a surplus producer of grain, the country's agricultural exports will benefit in the short-term from high prevailing prices. "High fuel and potentially fertilizer costs would weigh on government finances down the road, potentially limiting planned capital spending," Moody's said. "For all of these reasons

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