UPSC Current – Moody’s revises India’s 2020 GDP forecast to -8.9% from -9.6%
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Moody’s revises India’s 2020 GDP forecast to -8.9% from -9.6%
Why in News?
- Rating agency Moody’s Investors Service has revised upward India’s Gross Domestic Product (GDP) forecast for calendar year 2020 to -8.9% contraction from -9.6% it had projected earlier.
- Similarly, India’s GDP forecast for calendar year 2021 has been revised upwards to 8.6% from 8.1% projected earlier, the agency said in its latest global macro outlook report
- Report Titled ‘Nascent economic rebound takes hold globally but recovery will remain fragile”.
- It stated G-20 economies were expected to collectively contract by 3.8% in 2020, followed by 4.9% growth in 2021 and 3.8% growth in 2022.
