In this edition of Business Insight, Moneycontrol's Gaurav Choudhury shares insights into what this means for the Indian economy.
Moody’s Investors Services cut India’s sovereign credit rating by a notch to the lowest investment grade with a negative outlook.
Indian economy is expected to face a prolonged period of slower growth, amid a stressed financial system and rising debt.
Moody’s downgraded India’s credit rating to Baa3 from Baa2. The rating agency said although a rating upgrade is unlikely in the near future, it would change the outlook on India’s rating to stable if policy actions were to raise confidence that will rise to sustainably higher rates.
The rating agency also said while the latest rating action is taken in the context of the coronavirus pandemic, it was not driven by the impact of the pandemic. These remarks are significant criticism on the government’s reform approach so far.
In this edition of Business Insight, Moneycontrol's Gaurav Choudhury shares insights into what this means for the Indian economy.
