New Delhi, May 15 -- Moody's Ratings, a prominent credit rating agency, released its economic projections for India on Tuesday.

According to their assessment, the Indian economy is anticipated to expand by 6.6 per cent during the current fiscal year 2024-2025 (FY25), followed by a 6.2 per cent growth rate in the subsequent fiscal year.

A key factor underpinning this forecast is the robust credit demand fueled by the country's strong economic growth, which is anticipated to bolster the profitability of the Non-Banking Financial Company (NBFC) sector.

Moody's highlighted that the prevailing robust economic conditions will aid in preserving the asset quality of NBFCs, even as rising interest rates increase the debt burdens of their custo...