INSUBCONTINENT EXCLUSIVE:
India's GDP or gross domestic product expanded 5% in April-June - its slowest pace of growth since 2013
Credit ratings agency Moody's on Thursday changed its outlook on India's ratings to "negative" from "stable", citing increasing
risks that the country's economic growth will remain lower than in the past
The ratings agency had earlier lowered its growth forecast for India as the economy, amid low demand, registered its worst pace of expansion
The government, however, said India continues to be among the fastest growing major economies in the world and the country's "relative
standing remains unaffected"
"As India's potential growth rate remains unchanged, assessment by IMF and other multilateral organisations continues to underline a
positive outlook on India," said the finance ministry
Here are 10 things to know about this big story:The outlook partly reflects government and policy ineffectiveness in
the country's growth slowdown is in part long-lasting while backing its other ratings for India.In an official statement on Friday, the
finance ministry said the "fundamentals of the economy remain quite robust with inflation under check and bond yields low
India continues to offer strong prospects of growth in near and medium term."It also said the government has undertaken a series of
These measures would lead to a positive outlook on India and would attract capital flows and stimulate investments, the ministry said.The
foreign investors as announced in Budget to a mega consolidation plan for state-run banks to reduction in corporate tax.After the corporate
tax cuts and lower nominal GDP growth, Moody's now expects a government deficit of 3.7 per cent of GDP in the fiscal year ending in March
2020, compared with a government target of 3.3 per cent.The agency last month lowered its growth forecast for India to 5.8 per cent in
financial year 2019-20 from 6.2 per cent, saying a weaker growth outlook would dampen the prospects for fiscal consolidation.India's GDP
government spending slowed amid global trade frictions.Last month, the International Monetary Fund (IMF) lowered its growth forecast for the
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