Global rating agency Moody's has pegged India’s growth at 7.5-8% for the current fiscal, saying that higher interest rates as well as global economic uncertainties could affect the country’s economic expansion in the near term.
In its annual sovereign credit update on India, Moody's, however, added that the "cyclical slowdown" is unlikely to change its credit outlook of the country.
"Moody’s expects GDP growth of 7.5-8% in 2011-12... Given current global uncertainty, and the continuing transmission of the RBI’s tightening over the last year, the risks to both forecasts are on the downside," Moody's said.
India's economy grew at 8.5% in 2010-11.