US rating agency Moody’s on Friday cut India’s GDP growth forecast for 2019 calendar year to 6.2 % from the previous estimation of 6.8 %.
Moody’s Investor Service report also cut India’s gross domestic product (GDP) growth rate for 2020 by a similar 0.6 % points to 6.7 %.
“The moderation in business sentiment and slow flow of credit to corporates have contributed to weaker investment in India,” a Moody’s release said.
It said the weaker global economy has stunted Asian exports and the uncertain operating environment has weighed on investment. It also lowered the growth rate of 15 other Asian economies, including China and Japan.