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HomeEconomyMoody's revises India's GDP growth forecast to 5.6% from 5.8%

Moody’s revises India’s GDP growth forecast to 5.6% from 5.8%

Rating agency Moody's said India's economic growth has decelerated since mid-2018, with real GDP growth slipping and joblessness rising.

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New Delhi: Moody’s Investors Service on Thursday cut India’s economic growth forecast for current year to 5.6 per cent from 5.8 per cent estimated earlier, saying GDP slowdown is lasting longer than previously expected.

“We have revised down our growth forecast for India. We now forecast slower real GDP growth of 5.6 per cent in 2019, from 7.4 per cent in 2018,” it said.

It expected economic activity to pick up in 2020 and 2021 to 6.6 per cent and 6.7 per cent, respectively, but the pace to remain lower than in the recent past.

“India’s economic growth has decelerated since mid-2018, with real GDP growth slipping from nearly 8 per cent to 5 per cent in the second quarter of 2019 and joblessness rising.

“Investment activity was muted well before that, but the economy was buoyed by strong consumption demand. What is troubling about the current slowdown is that consumption demand has cooled notably,” it said.


Also read: WPI inflation drops further to 0.16% in October from 0.33% in September


 

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2 COMMENTS

  1. Who cares or knows what Moody says now? The Original Jumla was to win the election and it won it. Hook or crook that was the goal. Stupid voters in India believe everything. DMK used the Brahmin as looters and the mass believed. Shiv sena pulled the same stunt and the Marati population believed it, The PM pulls this stunt all the time. What is new??? One needs a good road to move ahead. no tar road ad pot holes will mot do.

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