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.
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.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/