New Delhi : Credit Rating Agency ,Moody’s. has slashed India’s GDP growth rate for 2020 fiscal to 5.4 percent from its earlier estimate of 6.6 .
According to its report, India’s economic growth had come down considerably in the past two years. It was expected of the country to make up in the coming fiscal year. However developments on the world stage might not allow that to happen soon enough, suggests Moody’s report. Economic impact from coronavirus spread would hamper India’s recovery further , the report points out.
Though there might be positive gains visible from economic policies, expect no significant surge in economic growth, says Moody’s report.
The report puts India GDP estimates at 5.4 percent for 2020 and 5.8 for 2021. For china the agency slashes GDP growth to 5.2 percent in 2020 and 5.7 for 2021.
