Moody’s Cuts India’s Growth Forecast

Current Context: Global rating agency Moody’s on Thursday cut down India’s economic growth for the current fiscal to 7.7% for the year 2022.

• Moody's earlier estimated India's GDP growth to be 8.8% in 2022.
• It cited the rising interest rates, uneven distribution of monsoon, and slowing global growth as reasons for the reduced projection.
• The global credit rating agency also lowered India's GDP forecast for 2023 to 5.2 percent from 5.4%.
• Credit rating is a numerical representation of the creditworthiness of an individual or a business in general terms or concerning a particular debt or financial obligation.
• Moody's was founded in 1909 with its headquarters in New York.

Question:

Q.1 According to Moody's, the GDP growth rate of India for the year 2022 will be?
a. 7.7%
b. 8.8%
c. 5.4%
d. 5.2%