Moody’s Investors Service cuts India’s GDP growth forecast to 6.2% from 6.8% for 2019

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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.

 

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