Current context: Moody’s Investors Service has revised downward its baseline growth projections for India to 5.3% for 2020.
a. 5%
b. 5.1%
c. 5.2%
d. 5.3%
- 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%
