“Fundamentals Remain Quite Robust”: Government As Moody’s Lowers Outlook

'Fundamentals Remain Quite Robust': Government As Moody's Lowers Outlook

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 in more than six years. 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