Moody's cuts India's 2015 growth forecast to around 7%
[MUMBAI] Moody's Investors Service cut its forecast for India's economic growth to around 7 per cent this year from 7.5 per cent because of lower-than-expected rainfalls in the ongoing monsoon season, the ratings agency said on Tuesday.
Moody's maintained its forecast of around 7.5 per cent increase in gross domestic product (GDP) for 2016, but pointed to risks ahead that include delays to the government's reform plans.
Moody's rates India at its lowest investment grade rating of "Baa3" with a "positive" outlook.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea to slap fines on food suppliers for ‘shrinkflation’
Stormy Daniels’ ex-lawyer in the hot seat at Trump trial
New Zealand says ‘seriously concerned’ by China’s increased security actions in Pacific
EU, ISSB agree on minimising overlaps in company climate disclosures
US law firm Mayer Brown to split from Hong Kong partnership
US labour costs rise by most in a year as productivity cools