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.
a. 5
b. 4.5
c. 3
d. 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
