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At 5.8%, Moody's dishes out bleakest FY20 growth forecast for India so far
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New Delhi, Oct. 10 -- Moody's Investor Services on Thursday slashed its 2019-20 growth forecast for India to 5.8% from 6.8% earlier, saying the economy was experiencing a pronounced slowdown which is partly related to long-lasting factors. The rating agency's projection is the most pessimistic so far and comes ahead of International Monetary Fund's growth projections due next week.
Last month, Asian Development Bank and the Organisation of Economic Co-operation and Development lowered FY20 growth forecast for India by 50 basis points and 1.3 percentage points to 6.5% and 5.9%, respectively. Last week, the Reserve Bank of India also slashed its growth projection for the economy by 80 basis points to 6.1% for 2019-20. Rating agency Standar...
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