New Delhi, Aug. 23 -- Amid a worsening economic slowdown, US rating agency Moody's has lowered India's GDP growth forecast for the 2019 calendar year to 6.2 per cent, from its earlier estimate of 6.8 per cent, and also revised downwards its growth forecast for 16 economies in the Asia-Pacific region. The Moody's Investor Service report also cut India's gross domestic product (GDP) growth rate for 2020 by a similar 0.6 percentage points to 6.7 per cent.
"The moderation in business sentiment and slow flow of credit to corporates have contributed to weaker investment in India," a Moody's release said.
A weaker global economy has stunted Asian exports and the uncertain operating environment has weighed on investment, according to the ratings ...