Moody’s Investors Service sees India’s gross domestic product (GDP) growth falling to 5.8% in the fiscal year ending in March 2020 (fiscal 2019) from 6.8% in fiscal 2018. The forecast is significantly lower than Reserve Bank of India’s (RBI) revised projection of 6.1% for FY20. The rating agency expects growth to pick up to 6.6% in fiscal 2020 and around 7.0% over the medium term. Key points What was an investment-led slowdown has broadened into consumption, driven by financial stress among rural households and weak job creation. A credit crunch among non-bank financial institutions (NBFIs), major providers of retail loans in recent years, has compounded the problem. Prolonged softer growth would dampen prospects for the government’s fiscal consolidation plans and hamper its ability to prevent a rise in the debt burden. Given India’s already weak fiscal position, this would weigh on the sovereign credit profile. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Forex News Today: Daily Trading News share Read Next President Trump to meet China’s Liu He at 18:45 GMT – White House FX Street 4 years Moody's Investors Service sees India's gross domestic product (GDP) growth falling to 5.8% in the fiscal year ending in March 2020 (fiscal 2019) from 6.8% in fiscal 2018. The forecast is significantly lower than Reserve Bank of India's (RBI) revised projection of 6.1% for FY20. The rating agency expects growth to pick up to 6.6% in fiscal 2020 and around 7.0% over the medium term. Key points What was an investment-led slowdown has broadened into consumption, driven by financial stress among rural households and weak job creation. A credit crunch among non-bank financial institutions (NBFIs), major providers of retail… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
