Moody's cuts India's GDP growth forecast to 5.6 per cent for 2019-20

Moody's Investors Service lowers India's economic growth forecast from 5.8 % to 5.6 % for 2019-20.
It expects economic activity to pick up in FY2020 and 2021 to 6.6% and 6.7% respectively.
Moody's predicted that the slow growth would be prolonged and would also have debt rises.
Earlier,Moody's Investors Service downgrades India's Credit rating outlook to 'negative' from 'stable'.
The ratings agency also cut its outlook for 21 Indian companies, including State Bank of India, Indian Oil Corporation Ltd, Infosys Ltd and NTPC Ltd to "negative" from "stable".