Amid an economic slowdown, Moody’s Investors Service has cut India’s gross domestic product (GDP) growth rate to 6.2 per cent for calendar year 2019 against its earlier projection of 6.8 per cent.
The rating agency scaled down India’s economic growth to 6.7 per cent for 2020, a cut of another 0.6 percentage points.
If it happens, Chinese economic growth rate would equal India’s this calendar year. However, India would again become the fastest growing large economy, at least in Asia, next financial year as the Chinese GDP growth rate would come down to 5.8 per cent.
India was among eight countries