Moody’s again cuts India GDP growth forecast to 2.5% from 5.3% in 2020: COVID-19 Impact

Moody’s again cuts India GDP growth forecast to 2.5% from 5.3% in 2020: COVID-19 Impact

Moody’s again cuts India GDP growth forecast to 2.5% from 5.3% in 2020: COVID-19 Impact

According to the Global Macro Outlook 2020-21 released by the Moody's Investors Service again cuts India’s Gross Domestic Growth (GDP) forecast to 2.5% from 5.3%  in 2020 due to the impact of COVID-19 pandemic and lockdown in India.

The ratings company estimates a 5% growth for calendar 2019.

China is forecast to grow 3.3% in 2020 against 6.1% in the previous year.

Moody’s expects a sharp rebound in India’s growth in calendar 2021 to 5.8%.

Moody’s anticipate the global economy to shrink 0.5% of real GDP by 2020, then rise to 3.2% by 2021.

Also Read: India’s GDP growth rate may fall sharply to 2.6 % in 2020-21: SBI’s Ecowrap