Moody’s Investors Service today has cut India’s Gross Domestic Product (GDP) growth forecast for the year 2019 to 6.2 percent from that of the earlier estimation of 6.8 percent.
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It has also reduced the estimate for the year 2020 by a similar measure to 6.7 percent.
“The weaker global economy has stunted Asian exports and the uncertain operating environment has weighed on investment,” it said in a statement.
Current economic slowdown unprecedented and government needs to take extraordinary steps, said Niti Aayog’s Rajiv Kumar.
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