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Fast Tracking Indian Economy: A Challenging Task Ahead |
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INTRODUCTION |
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| On November 08, 2019, global rating agency Moody’s Investors Service (Moody)
cut India’s outlook from ‘stable’ to ‘negative’, in a reflection of the increasing risks to the country’s economic growth and the government’s failure to address long-standing economic and institutional weaknesses. With this, Moody’s joined a growing list of global agencies that had had cut its estimate for India’s growth to 6.1% from 7% projected in July 2019, calling on the country to use monetary policy and broad-based structural reforms to address cyclical weakness and strengthen confidence. The World Bank also slashed the country’s economic growth forecast to 6% from 7.5% while the Asian Development Bank (ADB) cut down India’s growth outlook to 6.5% from 7.2 for the fiscal year 2019-2020...
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