Moody’s cuts 2015 growth forecast for Indian economy
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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