Moody lowers India’s GDP growth forecast to 5.6 per cent for 2019

Moody’s Investors Service has slashed India’s economic growth forecast to 5.6% for the fiscal year 2019. It stated that the government measures do not address the widespread weakness in consumption demand, as a reason for lowering the growth forecast. It also stated that the economic activity in India will pick up in 2020 and 2021 to 6.6 % and 6.7 % respectively.