Moody’s slashed India’s Growth projections to 5.5%

Moody’s Analytics slashed India’s growth projections to 5.5 % for the fiscal year 2012-13. It attributed the cut to inaction by government and poor monsoon.
Prior to this, CLSA and Citigroup had slashed their growth forecasts for India to 5.4 % and 5.5 %, respectively for the fiscal year ending in March 2013.