{"id":12593,"date":"2019-11-09T06:02:10","date_gmt":"2019-11-09T01:02:10","guid":{"rendered":"http:\/\/umang.pk\/2019\/11\/moodys-cuts-indias-outlook-to-negative-newspaper\/"},"modified":"2019-11-09T06:02:10","modified_gmt":"2019-11-09T01:02:10","slug":"moodys-cuts-indias-outlook-to-negative-newspaper","status":"publish","type":"post","link":"https:\/\/umang.pk\/ur\/2019\/11\/09\/moodys-cuts-indias-outlook-to-negative-newspaper\/","title":{"rendered":"Moody\u2019s cuts India\u2019s outlook to negative – Newspaper"},"content":{"rendered":"

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MUMBAI: Sellers wait for customers in a wholesale market at a fishing port on Friday. Reuters<\/figcaption><\/figure>\n

BENGALURU: Moody's Investors Service reduced the outlook for India's ratings to "negative" as "stable," citing the growing risks of Asia's third largest economy growing at a slower pace than in the past, sending to the markets Securities almost 1 percent lower at Friday's close. <\/p>\n

However, Moody & # 39; s maintained the local and foreign currency ratings of the country at "Baa2". <\/p>\n

The cut in prospects partly reflected the inefficiency of the government and policies to address economic weakness, which has led to an increase in the debt burden, Moody & # 39; s said. <\/p>\n

The rating agency also reduced its outlook for 21 Indian companies, including State Bank of India, Indian Oil Corporation Ltd, Infosys Ltd and NTPC Ltd to "negative" of "stable." <\/p>\n

India's economy grew 5{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} year-on-year between April and June, its weakest pace since 2013, which caused a lot of interest rate cuts by the central bank and forced the government to drastically reduce corporate taxes. <\/p>\n

Moody & # 39; s now expects a government deficit of 3.7pc of GDP in the fiscal year ending March 2020, compared to a government target of 3.3pc. <\/p>\n

"The depth and duration of India's growth slowdown, prolonged financial stress among rural households, the creation of weak jobs and, more recently, the credit crisis among non-bank financial institutions have increased the likelihood of a further slowdown entrenched, "said Moody's. <\/p>\n

The rating agency said it does not expect the credit crisis between non-bank financial institutions to resolve quickly. <\/p>\n

In response, the finance ministry said the fundamentals of the economy remained "fairly solid." <\/p>\n

"India remains among the fastest growing major economies in the world, the relative position of India is not affected," the ministry said in a statement. <\/p>\n

However, Indian dishes were reduced, with the broader Nifty 50 index closing 0.86pc. The rupee weakened to 71.25 against the dollar at 1019 GMT, compared to Thursday's close of 70,965.<\/p>\n

Published on Dawn, November 9, 2019<\/em><\/p>\n<\/p><\/div>\n<\/pre>\n<\/pre>\n

Source: https:\/\/www.dawn.com\/news\/1515759\/moodys-cuts-indias-outlook-to-negative<\/p>\n","protected":false},"excerpt":{"rendered":"

MUMBAI: Sellers wait for customers in a wholesale market at a fishing port on Friday. Reuters BENGALURU: Moody's Investors Service reduced the outlook for India's ratings to "negative" as "stable," citing the growing risks of Asia's third largest economy growing at a slower pace than in the past, sending to the markets Securities almost 1 […]<\/p>\n","protected":false},"author":1,"featured_media":12594,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[11077],"tags":[],"class_list":["post-12593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newspaper"],"_links":{"self":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/12593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/comments?post=12593"}],"version-history":[{"count":0,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/posts\/12593\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/media?parent=12593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/categories?post=12593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/umang.pk\/ur\/wp-json\/wp\/v2\/tags?post=12593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}