The government's recent economic relief measures will not restore real GDP to peak levels, it warns
Image: Shutterstock
Moody's Investors Service on Monday downgraded India’s foreign-currency and local-currency long-term issuer ratings to Baa3 from Baa2. The main rationale is that “India’s policy making institutions will be challenged in enacting and implementing policies which effectively mitigate the risks of a sustained period of relatively low growth, significant further deterioration in the general government fiscal position and stress in the financial sector,” it said in a media statement.