Moody’s cuts India’s GDP growth to “zero” in FY21

Moody’s cuts down India’s Gross Domestic Product(GDP) growth to “zero” for the current fiscal 2020-21. Its previous estimate was 2.6%. In 2021-22 India’s GDP growth rate will bounce back to 6.6%. The negative outlook reflects an increase in risk that economic growth remains significantly lower than in the past & is triggered by COVID-19. The weakening of fiscal metrics could lead to a downgrade, which will affect investment flow in India.

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Important takeaways for all competitive exams:

  • Headquarters of Moody’s: NewYork, United States.
  • President & CEO of Moody’s: Raymond W. McDaniel, Jr.

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