India GDP forecast for 2020 slashed to 5.4% in 2020 by Moody's

Moody's Investors Service on Monday revised its growth forecasts for India to 5.4 per cent for 2020 calendar year and 5.8 per cent for 2021, down from its previous projections of 6.6 per cent and 6.7 per cent. The Indian economy is going through a rough patch despite the reforms and the steps taken by the government to boost the production. The country's real GDP grew at a meagre 4.5 per cent in Q3 2019.