Moody’s cuts India GDP growth forecast for FY20, citing weak consumption
Updated : December 16, 2019 12:12 PM IST
Moody's noted that household consumption has been the backbone of India's growth, making up about 57% of GDP in FY19.
The ratings agency said what was once an investment-led slowdown has now broadened into weakening consumption, driven by financial stress among rural households.
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