Moody’s slash India's GDP growth forecast for 2019 to 5.6 percent
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Moody’s Investors Service on Friday slashed India's GDP growth forecast further to 5.6 percent. However, the growth rate is expected to increase in 2020 and 2021 to 6.6 percent and 6.7 percent respectively. “We have lowered our 2019 gross domestic product (GDP) growth forecast for India to 5.6 percent, which is lower than 7.4 percent growth in 2018. Consumption demand has cooled notably,” the firm said in a report.