India's economic growth will fall to 7.3 percent in 2019: Moody's

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Moody's Investors Service on Thursday said that Indian economy will expand 7.4 percent in 2018 However, due to rising interest rates, the growth in domestic demand letters at higher borrowing costs will slow down to 7.3 percent in 2019. In a report titled Global Macro Outlook 2019-20, Moody said that the Indian economy has increased 7.9% in the first half of the year 2018 (January-June), which reflects the effect of the ban on bondage.

Explaining that the cost of borrowing has already increased due to strengthening the monetary policy, Moody said that it is expected that the RBI will continue to increase the benchmark rate by 2019. This will further reduce domestic demand. These factors will limit the pace of the development of Indian economy for the next few years. For this reason, actual GDP growth will be 7.3 percent in 2019 and 2020 compared to 7.4 percent of 2018.

Moody said that in 2019 and 2020, global economic growth will slow down to 2.9 per cent compared to the estimated 3.3 per cent of 2017 and 2018. The agency believes that due to the stress of trade and geopolitical politics between the US and China, it will happen.

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