Moody's slashes India growth forecast to 9.3%

Moody's Investors Service on Tuesday slashed India's growth forecast for the current financial year to 9.3 per cent, from the 13.7 per cent projected earlier, on account of the negative impact of the second wave of COVID-19. India is experiencing a severe second wave of coronavirus infections which will slow the near-term economic recovery and could weigh on longer-term growth dynamics, it said.