Moody’s projects 5-6 GDP growth rate

International rating agency, Moody’s projected that Gross Domestic Product (GDP) of Indian economy would grow in range between 5-6 per cent in 2015 following strong domestic demand in the country and weaken Chinese economy.

The agency has published a report titled – 2015 Outlook-Global Credit Conditions, in which it projected 5-6 per cent GDP growth rate for Indian economy, which is higher than the current GDP growth rate of 5 per cent.

The agency said due to the strong domestic demand base and slowing Chinese economy, Indian economy was expected pick up high growth rate in 2015 .

Moody’s further said in its report that employment and consumption were likely to increase in India and the country would going see lower inflation rate in the next fiscal year.

The growth projection would help more inflow of investment into Indian economy, as the confidence of investors would be high with more speculation from Indian economy.

Stock markets rebound to green after the positive projection about GDP growth rate from the international agency Moody’s on Wednesday.