iStockMoody's Investors Service on Thursday slashed its 2019-20 GDP growth forecast for India to 5.8 per cent from 6.2 per cent earlier, saying the economy was experiencing a pronounced slowdown which is partly related to long-lasting factors. "Although we expect a moderate pick-up in real GDP growth and inflation in the next two years, we have revised down our projections for both. Compared with two years ago, the probability of sustained real GDP growth at or above 8 per cent has significantly diminished," it said. Rating agency Standard & Poor's has also lowered its India growth forecast to 6.3 per cent from 7.1 per cent. "By international standards, 5 per cent real GDP growth remains relatively high, but it marks a low rate for India.

Source: The Telegraph October 10, 2019 07:18 UTC