Global rating agency Moody’s slashed India’s GDP growth forecast for FY22 to 9.3 percent from 13.7 earlier amid a rise in COVID cases in the second wave that may derail the recovery in the economy. But investors are not worried as most of the impact is already factored in. Remember, Moody’s is not alone in cutting forecast for India. Earlier in May, its peer S&P cut India’s GDP forecast to 9.8% from 11%. Experts whom Moneycontrol spoke to suggested that the possible impact on the economy and earning due to the rise in COVID cases is already built-in in the market. The cut in GDP estimates may be taken negatively by the FPIs but not so much by domestic investors, Rusmik Oza of Kotak Securities said.
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