Moody’s Investors Service has cut India’s 2020 Gross Domestic Product (GDP) growth forecast to 5.4% from 6.6% and the next financial year (2020-21) growth rate estimate to 5.8% from 6.7%. According to Moody’s, due to the spread of novel coronavirus outbreak in China, worldwide growth will be affected and hence India’s economic growth recovery will be slow.
Moody’s also estimates that G20 economies will grow at a rate of 2.4 % in 2020, a sluggish move from 2019. China’s GDP growth estimated at 5.2 % in 2020 & expected to achieve GDP growth at a rate of 5.7 % in 2021.
Important takeaways for all competitive exams:
Goa is a small state on the western coast of India, famous for its beaches,…
Every year, people around the world search for words that show what interests them the…
The Hurun Rich List 2025 has once again highlighted India’s dynamic startup and business ecosystem.…
India’s innovation ecosystem has received global recognition as an Indian satellite internet concept emerged as…
India’s fiscal position showed resilience in the current financial year as net direct tax collections…
Recently, the Union Minister informed the Rajya Sabha about the progress and impact of the…