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Moody’s Cuts India’s GDP Growth Forecast To 5.6% For 2019-20

Moody's Cuts India's GDP Growth Forecast To 5.6% For 2019-20
New Delhi:  Moody’s Investors Service on Thursday lowered its economic growth

forecast for India to 5.6 per cent in the current financial year, saying GDP slowdown in the country is lasting longer than previously expected. The cut in growth forecast comes a week after the credit ratings major changed its outlook on India’s ratings to “negative” from “stable”. India’s economy expanded at 5 per cent in the first quarter of financial year, which marked the slowest pace of growth in more than six years.