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India GDP Growth Forecast Cut

India GDP Growth Forecast CutIndia GDP Growth Forecast Cut

Moody’s Investors Service, due to the effect of demonetization, has cut its forecast for India’s GDP growth in 2017 by 40 basis points to 7.1%, Indiainfoline reported. India has been termed as the fastest growing economy among the G-20 countries by the rating agency. On Wednesday, the IMF estimated that India’s GDP growth will take a hit by 150 bps until March 2019 due to demonetization, which resulted in the suppression of the growth forecast by Moody’s. Moody’s foresees a risk to global growth from changes in US policies, apart from India being affected as a nation.

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