Moody’s Analytics reduced their GDP growth forecast for India for the FY12 on inaction by the government in terms of policy and also on lack of options available to the RBI. The news comes on the back of CLSA and Citi lowering their GDP forecasts for India this fiscal.
It is observed that the slowdown had affected the output in the country, evident through the disappointing IIP numbers. The agency, Moody’s also cited lower than expected monsoons to impact the economy and weigh in on India’s growth. It also reduced its GDP forecast for FY13 to 6 percent from 6.2 percent.
Categories: General News