Moody’s Cuts India’s FY16 Growth Forecast To 7%

Posted by On August 18, 2015 0 Comment

Mumbai: Moody’s Investors Service cut its forecast for India’s economic growth to around 7 per cent this fiscal year (2015-16) from 7.5 per cent because of lower-than-expected rainfall 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 2016-17, 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.

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Source:Ndtv

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