Mumbai (Maharashtra), Oct. 10 -- : India is experiencing a pronounced slowdown in economic growth which Moody's Investors Service has assessed to be partly related to long-lasting factors.
"Prolonged softer growth will dampen prospects for the government's fiscal consolidation plans and hamper its ability to prevent a rise in the debt burden," it said in a report released on Thursday. "Given India's already weak fiscal position, this will weigh on the sovereign credit profile."
At 5 per cent year-on-year in the April to June quarter, India's real GDP growth has slowed markedly. The drivers of the deceleration are multiple, mainly domestic and in part long-lasting. What was an investment-led slowdown has broadened into consumption, driven ...