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Moody’s cuts 2015 growth forecast for Indian economy

by ChemOrbis Editorial Team -
  • 18/08/2015 (14:31)
According to media reports, Moody’s Investors Service has cut its 2015 economic growth forecast for India. Accordingly, Moody’s expects 7% growth this year for the Indian economy, down from its earlier projection of 7.5%. The ratings firm cited a drier than average monsoon season as the main reason behind their decision.

Moody’s reported that lower rainfall than average in the monsoon season negatively affected the country’s agricultural production and is thereby likely to hurt rural incomes and consumer demand.

For 2016, meanwhile, India’s economy is expected to expand by 7.5% on the back of policy changes which are expected to stimulate investment and low inflation that will increase real incomes and boost consumption.
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