Moody’s Investors Service has pegged India’s gross domestic product (GDP) growth for the current financial year at 5.8%, lower than what the Reserve Bank of India (RBI) projected last week at 6.1%. India’s growth will remain weaker than in the recent past, and the drivers of the deceleration are multiple, Moody’s said. “We forecast real GDP growth to decline to 5.8% in the fiscal year ending March 2020 (fiscal 2019) from 6.8% in fiscal 2018, and to pick up to 6.6% in fiscal 2020 and around 7% over the medium term,” the rating agency said. The fiscal year ending in March 2020 is internally considered by Moody’s as fiscal 2019. This denoted a weaker medium-term fiscal outlook than what Moody’s had previously expected.

Source: The Hindu October 10, 2019 18:33 UTC