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Moody’s Slashed India’s GDP in FY20 to 2.5%

Current context: Moody's Investors Service slashed its estimate of India's GDP growth during the 2020 calendar year to 2.5% on 27th March 2020.
Moody’s Slashed India’s GDP in FY20 to 2.5%
  • In its Global Macro Outlook 2020-21, Moody's said India is likely to see a sharp fall in incomes at the estimated 2.5 % growth rate.
  • It has cut the growth rate from its earlier estimate of 5.3%, on account of the rising economic cost of the coronavirus pandemic.
  • It has said that the global economy will contract in 2020, followed by a pickup in 2021.
  • The growth rate projection for the year 2021 as given in the report is 5.8%.
  • Moody’s Investors Service now expects real GDP in the global economy to contract by 0.5 % in 2020, followed by a pickup to 3.2 % in 2021.
  • Moody’s Headquarter: New York, United States
  • CEO: Raymond W. McDaniel Jr
  • Founder: John Moody

Question: 

Q.1 The Moody’s Investors Service has slashed its estimate of India's GDP growth during the 2020 calendar year to ___________ %, on account of the rising economic cost of the coronavirus pandemic?
a. 5
b. 4.5
c. 3
d. 2.5
Moody’s Slashed India’s GDP in FY20 to 2.5% Moody’s Slashed India’s GDP in FY20 to 2.5% Reviewed by Neha Verma on March 27, 2020 Rating: 5

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