Moody Slashed India’s GDP to 5.3% for 2020

Published on March 09, 2020
Current context: Moody’s Investors Service has revised downward its baseline growth projections for India to 5.3% for 2020.
Moody Slashed India’s GDP to 5.3% for 2020
  • Moody's had reduced India's growth projection for the calendar year 2020 to 5.4% from 6.6% on 17th February 2020.
  • In less than a month’s time, it has again slashed the growth projection from 5.4% to 5.3% for 2020 in its latest “Global Macro Outlook 2020-2021".
  • The major cause of the downward projection is an extensive and prolonged slump as a result of COVID-19 outbreak.
  • The agency has said that the global spread of the coronavirus is resulting in simultaneous supply and demand shocks.
  • The Moody has revised the 2020 baseline growth forecasts for all G-20 economies and has estimated that these countries, as a group, to grow by 2.1% in 2020, 0.3 % point lower than the previous forecast.

Question: 

Q.1 The Moody’s Investors Service has recently revised downward its baseline growth projections for India from 5.4% ________ for 2020?
a. 5%
b. 5.1%
c. 5.2%
d. 5.3%

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