Moody's cuts growth forecast for India to 5.8% this fiscal year

Read MORE

Moody's cuts growth forecast for India to 5.8% this fiscal yearMoody’s Investors Service on Thursday cut its growth forecast for India for the fiscal year that began in April to 5.8% from 6.2% and said a weaker growth outlook will dampen the prospects for fiscal consolidation. The ratings agency had lowered India’s growth forecast to 6.2% from 6.8% in August. India’s growth fell to a six-year low of 5% in the April-June quarter led by weak demand for consumer products and stress in the financial sector, prompting the central bank to cut its 2019-20 growth forecast to 6.1% last week from 6.9%.


Share:

Author: HEDGE

Executive Editor and Founder of HEDGEaccordingly.com. Hedge Was Founded in January 22, 2008. Learn more about HEDGEaccordingly