New York, Feb. 17 -- : 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.
India's economy has decelerated rapidly over the last two years and economic recovery will likely be shallow, it said in the February update of global macro outlook.
The country's real GDP grew at a meagre 4.5 per cent in Q3 2019. Improvements in the latest high-frequency indicators such as PMI data suggest that the economy may have stabilised.
"While the economy may well begin to recover in the current quarter, we expect any recovery to be slower than we had previously expected. Accordingly, we have revised ...