Current Context: UBS has sharply cut India's growth forecast for the financial year 2020-21 starting 1st April 2020, to 4% on 23rd March 2020.
a. 3.5
b. 4
c. 4.5
d. 5
- The UBS had earlier estimated India’s FY21 growth rate to be 5.1%.
- It estimated for India to clock a 4.8% growth in FY20.
- It also said that the real GDP growth will slow to under 2.5% for the June 2019 quarter, from the estimate of 4% for March.
- The UBS said that the economic impact will be determined more by the mobility restrictions on the population, rather than the growth of the affected cases per se.
- UBS Group AG is a Swiss multinational investment bank and financial services company founded and based in Switzerland.
- It was Formerly called as the Union Bank of Switzerland (1862–1998).
Question:
Q.1 The UBS has recently cut India's growth forecast for the financial year 2020-21 to __________ % from earlier 5.1%?a. 3.5
b. 4
c. 4.5
d. 5
