Moody's cuts India's growth forecast to 5.8 pc for fy20.

International rating agency Moody's on Thursday announced the lowering of India's Gross Domestic Products (GDP) growth to 5.8 percent. This is lowest projection after the Reserve Bank of India cut the GDP growth to 6.1 percent earlier this month. "We forecast real GDP growth to decline to 5.8 percent, in the fiscal year ending in March 2020, from 6.8 percent in fiscal 2018, and to pick up to 6.6 percent in fiscal 2020, and around 7.0 percent over the medium term," the agency said. It said that India's growth will remain weaker than in the recent past at 5 percent year-on-year in the April-June quarter of 2019. India's real GDP growth has slowed markedly.

The drivers of the deceleration are multiple, mainly domestic factors and in part, long-lasting. What was an investment-led slowdown...