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Moody's Forecast on India’s GDP

Current context: Moody's Investors Service has slashed India’s 2020 Gross Domestic Product (GDP) growth projection on 17th Feb 2020, to 5.4% from 6.6% forecast earlier.
Moody's Forecast on India’s GDP

  • Moody's has also cut the 2021 India’s GDP growth from 6.7% to 5.8%.
  • The reason for the downfall given by Moody is the weakness in the global economy due to the impact of the novel coronavirus (Covid-19) outbreak.
  • It said that any recovery in Asia's third-largest economy (India) may be lower than expected.
  • The agency has forecasted global GDP growth down, and expect G-20 economies to collectively grow 2.4% in 2020, a softer rate than last year, followed by a pickup to 2.8% in 2021.
  • It reduced the growth forecast for China to 5.2% in 2020 and a 5.7% growth in 2021.
  • Moody's Investors Service (MIS), an American credit rating agency, was founded by John Moody in 1909 to produce manuals of statistics related to stocks and bonds and bond ratings.
  • In 2007, Moody's Corporation was split into two operating divisions, Moody's Investors Service, the rating agency, and Moody's Analytics.
  • Headquarter: New York
  • CEO: Raymond W. McDaniel Jr

Question: 

Q.1 The Moody's Investors Service has recently slashed India’s 2020 Gross Domestic Product (GDP) growth projection to _________ from 6.6% forecast earlier. 
a. 6.1%
b. 5.9%
c. 5.7%
d. 5.4%
Moody's Forecast on India’s GDP Moody's Forecast on India’s GDP Reviewed by Neha Verma on February 17, 2020 Rating: 5

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