2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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3%
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-5.4%
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-8.9%
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-11.9%
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Detailed explanation-1: -NEW DELHI: Moody’s Investors Service on Tuesday slashed India growth forecast for calendar year 2020 to 0.2 per cent, from 2.5 per cent projected in March. For 2021, Moody’s expects India’s growth to rebound to 6.2 per cent.
Detailed explanation-2: -Moody’s had in May projected India’s Gross Domestic Product (GDP) at 8.8% this year. The economy contracted to 6.7% in 2020, the year when the pandemic struck the country, and grew at 8.3% in 2021.
Detailed explanation-3: -Moody’s Cuts India’s 2022 GDP Growth Forecast to 7%, Sees 2023 Growth at 4.8% The ratings agency took into account higher inflation, high interest rates and slowing global growth that, it believes, will dampen economic momentum more than it had expected.
Detailed explanation-4: -US rating agency Moody’s Investors Services has slashed India’s real GDP growth projections again to 7.0 per cent for 2022 from 7.7 per cent as “higher inflation, high interest rates and slowing global growth will dampen economic momentum by more than previously expected”.